Pi Network’s PI Token Remains Below Key Resistance, Bitcoin (BTC) Returns to $86K: Market Watch

FIL and ZRO are among the biggest gainers over the past 24 hours.

Bitcoin’s price volatility continues in a relatively tight range after the asset was rejected at $87,000 yesterday but managed to bounce off the $85,000 support.

Most larger-cap alts have remained untypically sluggish on a 24-hour scale, aside from BTW, which is up by 5%, and RAIN, which has dropped by 7%.

BTC Eyes to Reclaim $86K

The previous business week ended with a rollercoaster ride for the primary cryptocurrency. After it was rejected at $85,600 last Wednesday following the release of the PCE data, the asset started to climb back higher on Thursday and especially on Friday. It had tapped $87,000 even before the US jobs report went live. Once it did, and showed that the labor market was weaker than expected, BTC actually topped that level.

However, what followed was somewhat surprising since the odds for another rate hike actually declined. Instead of continuing to rise, BTC slumped hard in the following hours and fell below $84,000. The bulls finally stepped up at this point and didn’t allow another leg down. Bitcoin recovered some ground on Saturday to $84,000 and jumped to $85,000 on Sunday.