Crypto market drops as PI token leads losses

Bitcoin fell toward $75,000 after failing to hold a $78,400 breakout, as renewed Middle East tensions triggered a broader market pullback.

The decline wiped roughly $100 billion from total crypto market capitalisation, with BTC now trading more than $3,000 below its recent peak and dominance rising to 57.5%.

Altcoins followed the downturn, with Ethereum dropping toward $2,300 and BNB slipping back to around $620.

Aave posted the steepest losses among top assets, falling over 20% after the KelpDAO exploit, while M, WLD, and PUMP also recorded double-digit declines.

Pi Network’s PI token dropped more than 8% after being rejected at $0.185, now trading below $0.175 amid continued selling pressure.

The market reversal followed a brief rally driven by optimism over US-Iran talks and the temporary reopening of the Strait of Hormuz.

With geopolitical uncertainty persisting, traders are bracing for further volatility as traditional financial markets reopen.

At the time of reporting, Bitcoin price was $74,631.86.