Bitcoin’s severe price volatility from Thursday and early Friday has disappeared over the past 12 hours or so, despite the partial US government shutdown and the untypical fluctuations in the precious metal market. Most altcoins continue to struggle, with ETH still deep in the red, while XMR and CC have defied the odds from the larger caps. BTC Calms at $83K The primary cryptocurrency was rejected at $91,000 last Friday and spent the previous weekend trading sideways around $89,000 despite Trump’s new tariff threats, this time against Canada. However, the almost inevitable price drop materialized on Sunday evening and Monday morning when BTC slipped to a then-five-week low of $86,000. It surged past $90,000 on Wednesday before the first FOMC meeting of the year. It slipped to $89,000 just ahead of the event, and remained sideways at $89,000 in the first hours after it when the Fed decided to pause the rate cuts. However, as the geopolitical tension in the Middle East rose, BTC started to lose value on Thursday. In just a matter of several hours, Bitcoin dumped to $81,000, which became a two-month low. Friday was less volatile, and BTC even recovered some ground to $84,000, while the precious metal market melted down . Bitcoin now trades at $83,000, with a market cap of $1.650 trillion, while its dominance over the alts remains at 57.5%. BTCUSD Jan 31. Source: TradingView XMR, HASH Rocket Most of the top 36 non-stablecoin altcoins are in the red today. Ethereum struggles below $2,650 after another 3% daily decline. XRP is down to $1.70 after a 2.5% drop. ADA, DOGE, LINK, BCH, XLM, ZEC, and AVAX are also in the red by up to 4%, while SUI has plunged by over 5%. Monero and Canton are with impressive gains, surging by 10-11% daily. HYPE is slightly in the green, and so is Pi Network’s native token. After several consecutive all-time lows in the past week, PI has gained 4% daily and even tapped $0.175 earlier today before sliding to $0.17 as of press time. The total crypto market cap has dropped below $2.9 trillion on CG, meaning a decline of over $200 billion in just a couple of days. Cryptocurrency Market Overview Daily January 31. Source: QuantifyCrypto The post Pi Network’s PI Token Finally Rebounds, Bitcoin (BTC) Settles at $83K: Weekend Watch appeared first on CryptoPotato .
