The cryptocurrency market experienced a sharp decline following US airstrikes on Iranian nuclear facilities. This event triggered panic selling amidst geopolitical tensions.
Impact of Airstrikes on the Crypto Market
After US President Donald Trump ordered airstrikes on Iranian nuclear facilities, Bitcoin, Ethereum, and other leading cryptocurrencies significantly dropped in price. Market panic led to heavy sell-offs, wiping billions from the market in just hours.
Price Drop of Pi Coin
Pi Coin's price plummeted 11% in the last 24 hours, approaching its all-time low. As of now, Pi is trading at $0.47, raising concerns among holders about the coin's future. This drop followed a steep decline of over 30% in June, spurred by a massive unlock of 263 million Pi tokens, creating additional selling pressure.
Prospects and Expectations of the Pi Coin Community
Technical indicators suggest Pi Coin may be approaching oversold territory, where prices often rebound. Additionally, June 28, known as 2 Pi Day in the community, raises hopes for new announcements and partnerships. However, analyst Dr Altcoin predicts, "Pi is officially in the $0.4 range, and I expect it to remain there until the end of August. Pi Day 2 is unlikely to have any impact."
Amid global geopolitical instability, the cryptocurrency market remains under pressure, and the future of projects like Pi Coin remains uncertain.
