The Cryptomarkt took a sharp dip after the American President Donald Trump ordered surprise air attacks about the nuclear facilities of Iran. The attack reportedly achieved three major sites for nuclear driven, which led to geopolitical tension and a wave of panic in the global markets.
While the news about the air strikes broke, Bitcoin, Ethereum and other leading cryptocurrencies saw heavy sale, with billions of the market in just a few hours. Many bullish positions were liquidated when traders hurried to withdraw from risky assets for fear of further escalation.
The Pi-Munt from Pi Network has fallen by 11% in the last 24 hours and has gone dangerously close to its low point. At the time of writing, PI acts at $ 0.47, so that many holders are worried about the future of the currency.
This last drop comes before Pi Coin after a difficult few weeks, with the prices crashing more than 30% in June alone. One of the main reasons behind autumn is a huge token -disclosure of 263 million Pi -Tokens this month, worth around $ 143 million. This enormous increase in the offer has added the sales pressure, which means that the prices push down.
Technical indicators show that PI may be approaching over -selling territory, a level where prices often bounce back. In addition, 28 June, known as 2 Pi Day in the PI community – was only a few days away. Historically, the project has made major announcements around this date and many hope for new updates, partnerships or new functions that can increase the market sentiment.
Analyst Dr. Altcoin, however, went to social media and wrote: “Pi is officially in the reach of $ 0.4 and I expect it will stay there until the end of August. Pi day 2 will probably have no impact.”