Pi Network’s PI Drops from Top 50 Altcoins as Bitcoin Hits $82K Resistance

Bitcoin attempted another breakout in the past 12 hours but was once again rejected near $82,000, slipping more than $1,000 afterward.

Most large-cap altcoins remained relatively flat on the day, with the notable exception of Ethereum, which fell back below $2,300. XRP and BNB continue to trade closely as they contest fourth place by market capitalization.

BTC Stopped at $82K

Last week, Bitcoin surged to a three-month high near $83,000, gaining roughly $8,000 from the prior Wednesday. Many analysts cautioned that the rally’s structure left room for a pullback.

True to those warnings, BTC dipped to about $79,000 by Friday before buyers regained control and prevented a deeper decline. Over the weekend, Bitcoin recovered some ground and climbed back above $80,000.

Monday brought renewed volatility. BTC briefly fell to roughly $80,250 before spiking toward $82,500, only to be rejected and drop sharply after U.S. President Trump described Iran’s latest peace proposal as “totally unacceptable.”

Yesterday the price attempted another push but was again halted at the $82,000 level. The ensuing rejection pushed BTC back below $81,000, where it currently trades. Market capitalization sits near $1.62 trillion on CoinGecko, while Bitcoin’s dominance over altcoins has risen to about 58.3%.

BTCUSD May 12. Source: TradingView

BUILDon Enters Top 100, PI Drops Out of Top 50

Among the top 100 cryptocurrencies by market cap, BUILDon (B) led today’s gains, surging about 44% to $0.63 and moving into the 93rd spot by market capitalization. By contrast, PI continued its slide and fell out of the top 50 after a roughly 6% weekly decline.

Other notable daily gainers include CRO, STABLE, TON, and CC, while JUP, VVV, and PUMP recorded the largest daily drops.

Ethereum lost around 2% on the day and now trades comfortably below $2,300. XRP, BNB, SOL, and DOGE showed modest gains, while HYPE, ZEC, and LINK each declined by more than 1%.

The total crypto market capitalization remained largely unchanged from yesterday, hovering near $2.8 trillion on CoinGecko.

Cryptocurrency Market Overview May 12. Source: QuantifyCrypto