Bitcoin’s price fell below $70,000 and has since dropped another $2,000, now attempting to stabilize around the $68,000 mark.
Most cryptocurrencies besides Bitcoin are losing value, with Ethereum falling below $2,000 and Binance Coin dropping under $630. However, PI is an exception, experiencing a significant price increase today.
BTC Drops to $68K
Last Saturday saw escalating tensions in the Middle East, starting with air strikes by the US and Israel against Iran. Iran quickly responded with counter-attacks targeting several countries in the region, despite losing its Supreme Leader in the initial strikes. Bitcoin’s price initially fell from $67,000 to $63,000 following the attacks, but recovered to $68,000 later that same day.
The price of the cryptocurrency continued to move up and down as trading began on Monday, but overall, buyers were dominating. By Wednesday, it had reached $74,000 – its highest point in a month. After a significant increase of $11,000 from its lowest point on Saturday, the price began to fall, and this downward trend continued until earlier on Saturday.
Bitcoin fell below $70,000 yesterday after disappointing news about the US job market and comments from Donald Trump regarding Iran and Cuba. The price continued to decrease, reaching a low of $67,500 on Saturday morning.
Since then, its price has recovered to around $68,000, though it’s still down about 4% for the day. Its total market value has fallen to $1.36 trillion, and it currently accounts for 56.6% of the cryptocurrency market.
PI Defies the Market
As I’ve been tracking the altcoin market today, it’s becoming clear that sellers are really in control. We’re seeing significant drops across the board – Ethereum has fallen almost 5%, now trading under $2,000. Solana is down by a similar amount, around $84, and other major coins like BNB, XRP, Dogecoin, Bitcoin Cash, and Monero are all down between 2 and 3%.
Several other cryptocurrencies are experiencing significant losses, including SKY, ZEC, SUI, and AAVE. However, Pi Network’s token is a standout performer, increasing by 13% today and reaching around $0.23 – a price it hasn’t seen in three months. This strong growth is likely due to recent updates to the Pi Network protocol.
Despite this, the total value of all cryptocurrencies has dropped by more than $50 billion in just one day, now totaling $2.4 trillion according to CoinGecko.
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2026-03-07 12:02