Bitcoin Drops, Pi Network Gains 15% Ahead of FOMC

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The total crypto market capitalization tumbled below $3.9 trillion.

The cryptocurrency market, which started the new business week on the right foot, lost some ground over the past 24 hours.

Bitcoin (BTC) briefly dipped to almost $112,000, while Ethereum (ETH) and many other leading altcoins have also posted losses. Pi Network’s PI is in the opposite corner with a double-digit gain.

BTC Slips Ahead of Fed’s Decision
The primary cryptocurrency registered an impressive uptick on Monday (October 27), temporarily climbing above $116,000. It surpassed that level yesterday, too, but since then, BTC has been in an evident downtrend.

Several hours ago, the price tumbled to approximately $112,300. The bulls managed to reclaim some lost ground, and as of this writing, Bitcoin is hovering around $113,000, representing a 1.2% decline on a daily scale.


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