The cryptocurrency market fell sharply today amid news of Israel's strike on Iran. Experts and investors are closely watching the situation for further developments.
Market in the Red Zone
The cryptocurrency market slipped into the red zone following recent news of conflict in the Middle East. Bitcoin is down 3.5% to $104,209, while major altcoins have lost between 6% and 9%. Pi Coin has also dropped around 13% in the last 24 hours, now trading at $0.5506.
Technical Analysis and Market Sentiment
Analyst Dr. Altcoin stated that the strike has had a direct impact on Pi and the overall market. He warned that if Iran retaliates, prices could fall even further. Currently, Pi is down 11% over the past week and has lost 56% of its value in the past month. Given the existing trend, most technical indicators are signaling a sell.
Prospects and Potential Updates
Analysts warn that without significant updates, the price could fall further to $0.40 by late August. However, a recovery could follow if token unlocking slows down, as this would reduce selling pressure. The Core Team is expected to provide updates on key issues at the upcoming Pi2Day on June 28, 2025, which may significantly reshape Pi's perception and valuation.
Amidst the unstable situation in the cryptocurrency market, investors continue to watch developments closely, anticipating updates that could influence price recovery.
