Bitcoin (BTC) slipped over $1,000 at market open and is now trading just below $64,000, giving back some of the gains from a volatile week that saw it rally to $65,600 after US CPI data. The broader crypto market shed about $20 billion in total capitalization, now sitting at $2.250 trillion, as most major altcoins edged lower.
Bitcoin's roller-coaster week
BTC briefly touched $65,600 earlier this week following the US Consumer Price Index release, but the momentum faded. The asset is now hovering under $64,000, with its market cap below $1.290 trillion. Bitcoin dominance over altcoins stands at 57%, a level that suggests traders are still favoring the largest cryptocurrency during the pullback.
Altcoins mostly in the red
Ether (ETH), Binance Coin (BNB), XRP, Solana (SOL), and HYPE all declined up to 1% in the past 24 hours. RAIN, Bitcoin Cash (BCH), Uniswap (UNI), and TAO dropped as much as 3%. Zcash (ZEC) was the worst performer among the tracked assets, sliding over 6.5% to below $530. HASH token dumped more than 9%, though no specific catalyst was cited.
Pi Network bucks the trend
Pi Network's native token PI surged double digits and hit the $0.10 resistance level, holding most of its gains. The move stood out in a session where most tokens were under pressure. PUMP token also rallied, rocketing over 20% to $0.002, though its small market cap means the move had limited impact on the broader market.
Market cap and dominance shift
The total crypto market cap fell by roughly $20 billion to $2.250 trillion. Bitcoin's dominance at 57% indicates that altcoins are taking a disproportionate hit. With BTC dominance near recent highs, traders are watching whether Bitcoin can reclaim $65,000 or if the selling pressure will push it toward the $62,000 support zone.
