The crypto bloodbath rages on: Pi Network’s long-hyped PI token cratered 7.3% in the last 24 hours to $0.23 as of November 29, 2025, erasing a week’s worth of gains amid fading mainnet dreams and a broader altcoin rout, while Bitcoin slammed into a brick wall at $93K before retreating to $90.3K—leaving traders questioning if this is the final purge or the prelude to a ferocious rebound.
PI’s tumble is textbook capitulation. After flirting with $0.26 highs last week on whispers of Binance listings and ecosystem integrations, the token lost steam as social hype evaporated—Google searches for “Pi Network scam” spiked 45% overnight. With 24-hour volume slumping to $31.8 million and RSI plunging to 29 (deep oversold), bears are feasting on the 1.3% weekly uptick. Analysts at CoinGecko blame it on Pi’s “IOU” status: no real mainnet launch since 2019 means traders are bailing for tangible plays like SOL or TON. Yet, at $2.03 billion market cap, PI’s 57% green days in the last month hint at resilience—could this dip to $0.22 support spark a dead-cat bounce if KYC upgrades drop next week?
Enter Bitcoin, the unyielding kingpin. BTC’s weekend rally from $84K lows smashed through $90K resistance like butter, peaking at $93,100 on Friday before sellers piled in, driving it back 3 grand to $90.3K. The culprit? A textbook rejection at the 20-day SMA ($93,428), compounded by $1.4 billion in leveraged long liquidations last week. On-chain sleuths at Glassnode spot the silver lining: exchange reserves hit 2.3 million BTC (lowest since 2018), long-term HODLers vacuumed 74K coins in two weeks, and ETF inflows topped $1.1 billion despite the fear. With MACD curling bullish and RSI at 52, BTC’s holding $90K support like a vice—analysts like Rekt Capital eye $95K–$96K as the next unlock if volume holds.
The macro canvas? Fed minutes teased December cuts, but Trump’s tariff threats spooked risk assets. Alts like PUMP (-9%), SOL (-4%), and ADA (-6%) are bleeding harder, underscoring BTC’s dominance at 58%. For PI degens, this 7% gut punch tests faith in the “mobile mining” revolution; for BTC maxis, $93K is the gatekeeper to $100K glory.
As CryptoPotato quipped, “Fear at 19? That’s when legends load up.” The watch is on: purge or pivot?
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