PI Global Investments
Bitcoin

A Pause, Not a Reversal, for Crypto


Fig. 1. The crypto market took a step back following an impressive rally. Source: TradingView

The crypto market has taken a breather, falling by 3% over the past 24 hours to $2.86T, following a 15% rally since mid-September and a nearly 40% rise from its mid-August lows. External factors, ranging from a strengthening US dollar to a spike in bond yields and a decline in share prices, triggered a wave of selling in risk assets, leading to active profit-taking in cryptocurrencies.

The support zone, which had been in place from November 2025 to February 2026, has now become a resistance level. External factors prevented the cryptocurrency market from quickly returning to the consolidation zone around $3.0T–$3.25T. Among the 40 most liquid coins, there were sharp declines ranging from -0.3% (Tron) to -10.5% (Official Trump, Uniswap), while only Litecoin is 5.5% higher than it was a day ago.



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