Cryptocurrency markets remain highly volatile, significantly impacted by shifting trade tariffs.
Bitcoin (BTC) briefly fell below $83,000 after new tariffs were implemented, only to rebound to over $90,000 following news of suspended tariffs. However, it has again dipped below $83,000, marking an 11.8% decline over the past week. Ethereum (ETH) is also under pressure, trading just above $2,000 with an 18.2% drop in the same period.
As the week progresses, ECNETNews highlights three altcoins of interest: Arbitrum (ARB), Flare (FLR), and Pi Network (PI).
Arbitrum
Arbitrum has faced a downward trajectory for nearly two years, peaking at $2.4253 in 2023 before plummeting to a low of $0.312. The primary reason for this decline lies in its highly dilutive nature, with a current circulating supply of 4.41 billion out of a total supply of 10 billion coins. The daily release of new tokens, expected to reach 479,068, continues until April 2027 and has fueled market concerns.
The token has recently fallen below critical support at $0.4310 and remains below its 50-day moving average, indicating that further declines are likely, with a potential next price target around $0.25.
Flare
Flare is gaining attention as it prepares to unlock tokens worth $28.16 million, 2.90% of its circulating supply. After reaching a high of $0.03840 in December, Flare has since fallen to $0.01575, its lowest point in months. The token has dropped below its 50-day moving average but has formed a converging falling wedge pattern, suggesting a possible bounce back toward the 50-day level at $0.0220.
Flare’s blockchain supports smart contracts and interoperability with non-smart-contract networks, allowing the token to play various roles, including governance and collateral for decentralized finance (DeFi) applications.
Pi Network
Pi Network, the renowned tap-to-earn cryptocurrency, has seen significant declines, recently plummeting to a low of $1.3960. This downturn followed news of an impending unlock of over 1.4 billion tokens this year. The token has breached its important support level at $1.5337, forming a bearish pennant pattern, and could continue to fall, targeting the psychological threshold of $1.00.
In addition to these trending altcoins, Aptos, Perpetual Protocol, and Apecoin are poised for significant token unlock events, while major cryptocurrencies like Bitcoin, Ethereum, and XRP remain under close watch as traders assess their price movements after a period of stability.
Notably, potential listings on leading exchanges could offer some market optimism as investors look for price recovery.
