After dropping more than $4,000 from its Thursday-evening peak near $82,000, Bitcoin has steadied close to $78,000 following a multi-week low touched yesterday.
Most large-cap altcoins remain largely subdued on the daily chart, with notable exceptions among the top privacy coins, which have shown strong rebounds.
BTC Settles at $78K
Less than 11 days ago, Bitcoin climbed to its highest level in three months, approaching $83,000, having recovered almost 40% from its early-February low. That rally was halted near $83,000 and the price eased back to about $79,000 by Friday. After a quiet weekend, BTC briefly pushed above $82,400 on Monday but faced rejection and slid toward $80,000 over the next days.
On Wednesday, bearish pressure pushed Bitcoin down to around $78,500. Positive developments around the CLARITY Act in the US Senate then helped BTC surge several thousand dollars to near $82,000 once more.
That resistance proved too strong and the price fell to roughly $80,500 within hours. The decline intensified Friday evening and into Saturday when Bitcoin dumped to a two-week low near $77,600. Since that low it has recovered modestly and now trades just above $78,000.
Bitcoin’s market capitalization has slipped to approximately $1.56 trillion, while its dominance over alternative cryptocurrencies remains elevated above 58% according to CoinGecko.
PI Falls Out of Top 50
As noted, large-cap altcoins show limited movement on the day. Ethereum, XRP, Solana and BNB are trading slightly lower, while TRON, Cardano and Dogecoin have posted marginal gains.
Privacy-focused tokens are outperforming many peers: HYPE is up more than 2% to $43, Monero (XMR) has risen about 3% to $390, and Zcash (ZEC) has climbed roughly 4.5% to trade above $515.
Pi Network’s PI token plunged sharply yesterday and is down more than 8% on the week. The token lost a key support at $0.165, a break that some analysts say could open the way to new lows. PI has also dropped out of the top 50 cryptocurrencies by market capitalization.
The total cryptocurrency market capitalization remains under $2.68 trillion on CoinGecko after shedding over $100 billion since Thursday’s peak.