Bitcoin remained under pressure on Saturday, trading just below the $70,000 mark after failing to maintain a brief rally above $71,000 earlier this week. In Pakistani currency, the world’s largest cryptocurrency is currently valued at roughly Rs 19.4 to Rs 19.6 million per coin, reflecting the recent volatility in global crypto markets.
The digital asset had climbed close to $72,000 earlier in the week after recovering from a sharp drop that pushed prices down to nearly $65,600 on Monday. However, the upward momentum faded quickly and bitcoin slipped back below the key $70,000 psychological level.
Market analysts say the latest price swings were partly influenced by geopolitical developments in the Middle East, which have triggered volatility across global financial markets.
Despite the slowdown, bitcoin still holds a market capitalisation of nearly $1.4 trillion and maintains dominance over the broader cryptocurrency market.
While bitcoin moved sideways, most major alternative cryptocurrencies recorded modest gains.
Ethereum, the second-largest cryptocurrency, managed to hold above the $2,000 support level, signaling some stability among large-cap digital assets. Meanwhile, several smaller tokens outperformed the broader market.
HYPE emerged as one of the day’s strongest performers, rising by more than 8 per cent, while SKY and TAO also recorded noticeable gains among the top 100 cryptocurrencies.
Pi Network
One of the notable developments in the market came from Pi Network’s PI token, which saw renewed interest after the crypto exchange Kraken announced that it had enabled trading for the token starting March 13.
Following the listing news, PI climbed about 5 per cent in a single day and briefly touched $0.24, adding to its strong performance over the past week.
Market Value
Overall, the total global cryptocurrency market capitalisation remained relatively stable, standing at around $2.45 trillion, according to market tracking platforms.
For now, investors appear to be watching the $70,000 level closely. A clear break above it could restore bullish momentum, while continued resistance may keep bitcoin trading sideways in the near term.
