Bitcoins price movements continue in an underwhelming manner as the asset was stopped ahead of $85,000 yesterday and pushed south by about two grand.

Several altcoins have produced notable losses over the past 24 hours, led by PIs price plunge.

BTC Stopped at $85K

The primary cryptocurrency went through a highly volatile start of the previous trading week, which is in contrast of the most recent movements. Back then, the asset plunged hard on Monday and Tuesday, dropping by $9,000 within 48 hours to a four-month low of under $77,000.

However, the bulls finally stepped up at this point and didnt allow another breakdown. BTC started to recover some ground and almost immediately reclaimed the $80,000 target. It jumped to $85,000 on Wednesday following favorable US CPI numbers but lost the momentum in the following days and spent the weekend trading sideways around $84,000.

After another failed attempt at $85,000, bitcoin slipped to $82,000 but managed to defend that level. This resulted in another surge toward $85,000, but to no avail. As of now, the cryptocurrency struggles below $83,000 after losing about two grand since yesterdays peak. At the same time, CryptoQuants CEO warned that the bull run may have come to an abrupt end.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! For now, BTCs market cap has declined below $1.650 trillion, while its dominance over the alts on CG is at 58.6%.

PI Keeps Dumping

Most altcoins are in the red on a daily scale. The negative trend has a leader named PI. Pi Networks native token has plunged by another 16% in the past 24 hours and now struggles to remain above $1.1.

Solana, Cardano, Dogecoin, Ripple, Shiba Inu, and Litecoin follow suit from the larger-cap alts, with losses of up to 4% in the case of SHIB and LTC.

In contrast, OKB has gained over 5% and sits well above $50. AVAX, TRX, and TON are the other larger-cap alts with notable gains.

The cumulative market cap of all crypto assets has dropped by about $20 billion since yesterday to $2.8 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

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Cryptocurrency charts by TradingView.