🔹 Bitcoin (BTC) Holds Above $107K After Sharp Recovery
Bitcoin price has staged a notable rebound this week, recovering from a weekend dip that tested the critical $100,000 psychological level. On Sunday, BTC touched a low of $98,200, sparking concern among investors. However, bulls quickly stepped in, pushing the price back above six figures.
By Wednesday, Bitcoin closed above $107,000, and has since maintained its position in early Friday trading. While BTC remains below its all-time highs, the recent recovery reflects strengthening market sentiment amid declining U.S. dollar strength and expectations of Fed rate cuts.
📌 Key BTC Levels to Watch:
- Support: $104,000 / $100,000
- Resistance: $110,000 / $117,000 (ATH retest zone)
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🔹 Ethereum (ETH) Gains Network Momentum Despite Price Consolidation
Ethereum (ETH) has shown resilience even as price action remains range-bound. On Friday, ETH dipped 1% but held its ground above key support. Interestingly, on-chain metrics reveal a spike in network usage, with transaction counts jumping from 1.23M to 1.75M on Wednesday.
This uptick in activity, driven by more active addresses, signals growing user engagement — a potential bullish indicator despite the short-term sideways movement in price.
📌 ETH Key Metrics:
- Support: $5,750 / $5,600
- Resistance: $6,200 / $6,500
- Bullish Signal: Rising network transactions and stable open interest
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🔻 Pi Network (PI) Under Pressure as Altcoins See Sell-Off
While major cryptocurrencies stabilized, Pi Network (PI) extended its losses into Friday. After rallying earlier in the week, PI now trades 2% lower, following a 9% drop on Thursday. The pullback comes after a strong rejection from the $0.66 resistance, eroding recent gains.
PI risks deeper losses if it breaks below $0.50, a key psychological support level. The current downtrend could test this zone if broader altcoin weakness persists.
📌 PI Price Outlook:
- Immediate Support: $0.50
- Critical Support: $0.49 (weekly low)
- Resistance: $0.60 / $0.66
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📊 Summary
The crypto market remains volatile but shows signs of resilience:
- Bitcoin holds strong above $107K after a recovery rally.
- Ethereum sees growing network use, hinting at a potential breakout.
- Pi Network faces key support tests amid altcoin market weakness.
As investors eye the upcoming US PCE inflation data, further volatility is expected across crypto markets.
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