Bitcoin slides below $92K: How the ‘crypto king’ lost $100 billion in few months—Did Pi Network play a role?

Bitcoin’s price tumbled below $91,000 on Tuesday, marking its lowest point in months. The broader crypto market saw over $100 billion in value erased within 24 hours. Investor sentiment remains weak amid global economic concerns and growing geopolitical to TradingView, the selloff in risk assets started last week, driven by fears over the US economy. The decline worsened as former US President Donald Trump reaffirmed his plans for 25% tariffs on Canada and Mexico, saying they “are going forward on time, on schedule.” The Federal Reserve’s firm stance on interest rates added further pressure.Stock Market Downturn Adds to Crypto WoesBitcoin’s crash mirrored broader market struggles. The S&P 500 dropped 2.3% over the past five trading days, while the Nasdaq Composite slid 4%. Bitfinex analysts noted that Bitcoin is increasingly aligning with traditional markets, stating, “A similar stagnation in traditional financial markets has been brought about by macro-driven uncertainty.”US consumer sentiment has also taken a hit. A University of Michigan survey from February 21 found that consumer confidence fell 10% from January to its lowest level in 15 months. Rising inflation expectations and economic uncertainty have raised fears of reduced Hack Fuels Investor ConcernsSecurity breaches continue to plague the crypto industry. Dubai-based exchange ByBit reported that hackers infiltrated its Ethereum cold wallet, stealing a significant amount of ether. The stolen assets were dispersed across multiple wallets and liquidated through various platforms. The attack has reignited concerns over the vulnerability of centralised ’s Bitcoin Buying Spree ContinuesDespite the downturn, MicroStrategy remains bullish on Bitcoin. The company, led by Michael Saylor, has added 20,365 Bitcoin to its holdings, worth nearly $2 billion. This latest purchase was financed through a convertible bond sale, bringing the firm’s total Bitcoin stash to 499,096, valued at approximately $33.1 billion. Saylor, a vocal Bitcoin advocate, once declared, “Every Bitcoin you don’t buy is gonna cost you $13 million.”Pi Network’s Pi Coin Surges 270% After Initial CrashWhile Bitcoin struggles, Pi Network’s Pi Coin has seen a dramatic rebound. Following a sharp post-mainnet crash, where its price plummeted to $0.60 after listing on OKX, the coin has since surged by 270% to $1.64. The recovery has sparked renewed investor interest, particularly amid speculation about a potential Binance listing. Such a listing could further enhance Pi Coin’s credibility and market analysts note that Pi Network’s journey has been anything but stable. However, its unique mobile-first mining approach and growing adoption suggest that it could carve out a significant niche within the cryptocurrency Faces Critical Juncture After 90 Days of ConsolidationBitcoin has been trading between $91,000 and $102,000 for nearly three months, with no clear breakout in sight. Bitfinex analysts stated, “The momentum required for a sustained breakout has been lacking, and this has led to a period of contraction and consolidation across almost all major crypto assets.”The market downturn triggered a wave of liquidations, with CoinGlass reporting over $961 million wiped out in the last day. Long Bitcoin bets suffered the most, with $277 million lost. Institutional Bitcoin demand has also slowed, with outflows from spot exchange-traded funds (ETFs) hitting $552.5 million in the week ending February ’s Regulatory Landscape Shapes Crypto FutureWhile the US remains cautious on crypto regulation, Asian markets are taking a more proactive stance. Bloomberg News reported that Malaysia and Thailand are considering new policies, while Japan, South Korea, and Cambodia have taken incremental steps toward broader adoption. Hong Kong, Singapore, and Dubai are emerging as dominant crypto hubs, attracting institutional interest amid tightening US inflation concerns, regulatory shifts, and geopolitical tensions at play, Bitcoin remains at a crossroads. Whether it regains its bullish momentum or faces further declines will depend on macroeconomic developments and investor confidence.