Bitcoin has once again made a strong comeback, reclaiming the $80,000 level after dipping to a four-month low. This recovery has brought fresh optimism among investors, but uncertainty still lingers as key U.S. CPI data is expected to come on March 12.
Bitcoin’s Recent Price Swing
Bitcoin slipped to around $76,800 just days ago, triggering concerns about a deeper sell-off. However, the cryptocurrency quickly rebounded and now holds steady above $82,000. Despite this, Bitcoin is still down 14% in 2025 and remains 26% below its all-time high.
One of the key reasons behind Bitcoin’s recent dip was the reaction to former U.S. President Donald Trump’s proposal for a national Bitcoin reserve. Initially, the announcement created excitement, but when no actual government purchases followed, investors felt let down.
Alongside this, broader economic concerns, including inflation fears, rising interest rates, and trade tensions, have also weighed on Bitcoin’s price. While the recent recovery shows strength, experts warn that volatility is far from over.
Strong RSI Seeing a Recovery
From a technical perspective, Bitcoin’s derivatives market is showing signs of stability. The annualized premium on Bitcoin futures remains at 4.5%, even after the sharp decline between March 2 and March 11.
This is a positive sign, as, during previous major crashes, this premium dropped to zero or even negative levels, signaling extreme panic.
Additionally, the Relative Strength Index (RSI), which measures price momentum, has risen from 30 to 40, suggesting that selling pressure is easing. However, for Bitcoin to confirm a strong recovery, the RSI must move above 50.
What’s Next for Bitcoin?
If Bitcoin continues its upward trend, analysts predict it could quickly move toward $90,000. However, the coming days will be crucial in determining whether this recovery is sustainable or if another dip is on the horizon.
The Shiba Inu community is once again mirroring optimism amid a massive 3,800% burn rate recorded on Thursday. On-chain metrics have revealed that 284 million SHIB got destroyed in the last 24 hours, suggesting a bullish outlook for long-term price prospects. SHIB price is currently trading around the $0.000013 price level, with the crypto holding support at $0.000012.
Shiba Inu Burn Rate Soars 3900% As 284M Coins Destroyed
According to the official tracker Shibburn’s data on May 1, the Shiba Inu burn rate sky shot by a whopping 38299% in just 24 hours. As per the data, this massive surge came against the backdrop of 283.74 million tokens ditched from the supply intraday.
Source: Shibburn official site
Primarily, the wallet address 0x6081258689a75d2…887239fe was reported to be responsible for the lion’s share in the burn upswing as it solely burnt 263.70 million SHIB over the past day. In the upshot, broader market sentiments about such massive burns remain bullish, given the law of supply and demand.
It’s notable that the SHIB burn mechanism permanently reduces the supply by sending tokens to a null address, making their retrieval impossible. In turn, the meme coin’s supply takes a severe hit, and long-term price prospects also reflect optimism.
SHIB Price Still Waning
However, despite the massive burn rate surge, SHIB coin’s price has prevented any major gains and continued its consolidation today2. At the time of reporting, the meme coin rested at $0.00001331, maintaining a trading session around the previous day’s levels.
Notably, the short-term impact of such massive burns is usually negligible, although historical data shows that it is bullish for long-term prospects. A total of 410.73 trillion tokens have been burnt to date, thanks to the Shiba Inu burn mechanism. Besides, 584.41 tokens are still left in circulation, per the tracker’s data.
A SHIB price prediction by CoinGape in the interim revealed that the meme coin eyes a price rally shortly ahead. This bullish projection rides the back of strong technicals and bullish on-chain metrics. Notably, the dog-themed crypto is currently in an accumulation zone and the next key level to watch is $0.00001364. Overall, broader market sentiments orbiting the meme coin remain bullish amid rising Shiba Inu burn rates and other bullish dynamics.
As the XRP lawsuit lingers on, lawyer Bill Morgan has found significant upsides to the latest joint motion filed by the parties. While whispers of an early decision by the court continue to swirl, experts argue that a ruling in the short term will most likely be a rejection of the joint motion. Bill Morgan
The Pi Network community is eagerly awaiting Pi Day, which will mark the sixth anniversary of the project. However, even as anticipation builds within the community over the impact that this day will have on Pi coin price, several concerns remain that could impact token holders. This article explores the four things that Pi Network token holders need to worry about on this pivotal date.
Things Pi Network Token Holders Should Worry About on Pi Day
Pi Day is an event that is celebrated on March 14 every year and will coincide with the project’s sixth anniversary. During this event, Pi Network token holders are awaiting a flurry of announcements that could spike the level of market interest in the altcoin.
Pi Coin has made waves since its launch, with its market cap surging to more than $11 billion. Top exchanges like OKX and Bitget have listed Pi Coin. There has also been notable Pi Coin adoption from a top US real estate company.
Pi Day is set to unlock another stage for the project. This day is also the deadline for mainnet migration. There is also anticipation that a major exchange might list Pi Network token on this day.
Nevertheless, despite the buzz surrounding this day, Pi Coin holders should remain concerned about the following:
KYC and Mainnet Deadline Migration
The Pi Network migration deadline is on Pi Day 2025. This migration will transfer Pi token holders and users from the testnet to the official blockchain that launched last month. Users can only migrate their tokens if they complete Know Your Customer (KYC) verification.
Pi Network has set the deadline for migration on March 14, 2025. It has also stated that there will be no extensions to this deadline. Those who fail to complete KYC and the migration will end up losing most of their Pi tokens.
Pi Network Migration Deadline
The possibility of losing Pi Coins if one misses the migration deadline should concern token holders. Moreover, given the gains that the Pi Network token could see during this event, losing these coins could lead to major losses.
Concerns About Decentralization
Pi Network token holders should also be concerned about the level of decentralization on the project. Pi Coin has a maximum supply of 100 billion tokens. Meanwhile, data from PiScan shows that 62 billion tokens are held by six wallets belonging to the core team.
Pi Coin Core Team Wallets
Besides the supply distribution, the Pi Network has 2 active validators globally and only 17 active nodes. This is a significantly small number compared to decentralized networks like Bitcoin and Ethereum, which have thousands of active nodes and validators that guarantee decentralization.
Pi Network Nodes
Such concerns could weigh on the Pi Network price after Pi Day. It may also hinder broader adoption, and impact investor confidence.
Delayed Listing on Top Exchanges
The Pi Network community is optimistic about Binance listing Pi Coin. Some anticipate that the listing could happen on Pi Day after the mainnet migration and users meet KYC requirements.
Nevertheless, Binance has yet to confirm the listing. Coinbase has also not revealed plans to list this token despite Pi Coin gaining swift adoption in the US. If Pi Network token is not listed on another major exchange on Pi Day, it could slow the momentum and reduce investor confidence.
Pi Network Price Shows Slow Momentum
Pi Network price today is $1.68 with a marginal drop of 1.7% in 24 hours. The RSI is at 55, which is close to neutral levels, indicating that buying activity has slowed. The CMF indicator has also tipped south, which is a sign of Pi Coin price weakness as buying pressure fades.
The lack of significant buying pressure around the Pi Network token despite the hype around Pi Day is concerning. If this momentum continues, the price could slip to the 23.6% Fibonacci level of $1.36. Conversely, if buying pressure surges and reverses the trend, Pi Coin could touch the 123.6% Fib level of $1.93.
PI/USDT: 2-hour Chart
Bottom Line
The Pi Network token is poised for price volatility on Pi Day. While a flurry of announcements could spark gains, Pi Coin holders should still take note of factors like the mainnet migration. Concerns about decentralization and failure of being listed on other top exchanges may affect the price performance.
