The Weekend’s Market Volatility

The relatively calm weekend was disrupted yesterday with substantial volatility around the $84,000 mark after some large short positions opened on Hyperliquid.

Most altcoins are on a slight retracement today, while BNB has jumped by over 6%. PI, on the other hand, has dumped by almost 10%.

BTC Volatile at $84K

The previous business week went in a highly fluctuating manner, starting on Monday with a price slump from $86,000 to $80,000. After a brief recovery to $84,000, BTC plunged to a four-month low of under $77,000 on Tuesday.

Following this $9,000 decline in less than two days, BTC reacted positively, reclaiming the $80,000 line. It climbed further after positive US CPI data for February, jumping above $85,000 on Wednesday.

However, this rally was short-lived, and BTC dropped back to $80,000 before climbing to $84,000 over the weekend. Most of the time was spent around this mark, aside from a spike to $85,000 and a plunge to $82,000 following a $366 million short on Hyperliquid.

As of now, BTC stands just under $84,000, with a market cap of $1.655 trillion on CG, maintaining 58.6% dominance over alts.

BNB Up, PI Down

The biggest gainer among larger-cap alts today is Binance Coin, which has jumped by over 5% and is now trading above $630. In contrast, most other alts are in the red.

ETH, XRP, ADA, and TRX are down by up to 1%, while SOL has plunged by over 3.5%. PI is the biggest loser, dropping 10% to under $1.35.

More volatility is seen from OKB and MNT, which have pumped by 5-6%, while TRUMP is down by 3%.

The total crypto market cap has declined by over $20 billion since yesterday and is now well below $2.830 trillion on CG.