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Bitcoin price holds steady at US$64,000, Pi Internet token hits a new low: Weekend market observatio

2026-07-12 00:50:40

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Bitcoin has gradually recovered, with the price touching and just above $64,000, and has remained at that level for about the past 24 hours. Most large-cap altcoins have risen slightly on the daily scale, but have remained largely sideways since yesterday.

Bitcoin holds on to $64,000. The major cryptocurrency responded well to its fall below $58,000 on July 1, setting a multi-year low. It rebounded quickly, standing back at $60,000 and jumped to $63,000 the previous weekend. Bitcoin climbed further to $64,000 on Monday, before Strategy announced its largest BTC sell-off in history, selling more than 3,500. The bad news sent prices tumbling to $61,200. However, in the next few hours, the asset rebounded strongly and challenged $64,500. After the United States and Iran launched a new round of attacks on each other, Bitcoin was rejected again and slipped to $61,500. However, bulls seemed firmer this week, perhaps driven by continued net inflows of spot bitcoin ETFs, helping the asset recover above $64,000 on Friday. After falling slightly below that level, Bitcoin has now returned to that position, trading just above $64,000. Its market value has climbed to approximately $1.290 trillion on CoinGecko. However, Bitcoin\'s dominance among alternative currencies has been hit, falling to 56.3% from 56.6% a few days ago.

BTCUSD July 11 Trend

Pi Network\'s trough. Pi Network\'s native tokens have been in a bad situation recently. It continues to hit record lows, with the latest low coming a few days ago at $0.09663 (CoinGecko data). Despite a slight rebound of more than 2%, it still struggled below $0.10. Most large-cap altcoins remain sideways on the daily scale. ETH is close to $1,800, BNB is close to $580, and XRP is competing around $1.10. In comparison, SOL was below $80, while HYPE fell further away from $70 after falling 2.7%. BEAT performed well among the top 100 altcoins by market capitalisation, soaring 30% to nearly $3. In comparison, BDX and MORPHO fell 9% daily.

The total market value of cryptocurrencies remains at approximately US$2.280 trillion, with no major changes since yesterday.

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