Cryptocurrencies remain range-bound with mixed performances over the past day.
While CryptoQuant’s CEO predicts prolonged struggles for Bitcoin, Solana and Pi Network dominate today’s altcoin trends.
Solana deletes controversial ad after criticism
The Solana team deleted its latest ad on X after massive backlash from the cryptocurrency community.
The advertisement for the Accelerate conference attracted criticism over its political message around gender.
The ad featured an American attending a therapy session.
He explained being absorbed by things that push human potential, including cryptocurrency and artificial intelligence.
The therapist advises the man to focus on other productive things like a new gender.
The now-deleted ad received massive reactions, with over 1,400 reposts, 1,300 comments, and 1.4 million views.
Notably, most individuals had saved the ad.
Here’s the now deleted Solana ad for those who are curious
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The video grabbed attention as the United States battles sex category issues after Donald Trump signed an order identifying males and females as the only genders.
Venture capitalist Adam Cochran commented on the advert:
They approved this, supported it, and celebrated it. They rolled it back because it hurt their business, not because they thought it was wrong.
However, one user remained optimistic, stating,
Everyone crypto that “crypto is supposed to be decentralized and political” is missing the point entirely.
The ad is designed to be cringy range bait, and you’re all taking the bait – pushing its reach even further.
Pi Coin poised for further declines
Pi Coin displays a robust bear dominance, with an over 15% decline in the past 24 hours.
It has lost over 25% in the past two weeks as the Pi Day (KYC deadline) met massive sell-offs.
PI changes hands at $1.14 and seems poised for extended declines below the $1 psychological level.
Various factors contribute to Pi Network’s current bearish state.
Technical indicators confirm seller control. It wavers well below the key 50 and 200- day Exponential Moving Averages.
The 4H Moving Average Convergence Divergence remains below the signal line, highlighting sellers’ edge.
The dominant red histogram confirms PI’s bearish structure.
The Chaikin Money Flow, which tracks money entering and leaving the asset, has been in the negative region over the past three days.
A declining CMF highlights investor exodus as enthusiasts lose confidence in the token’s future performance.
Sellers are targeting the psychological mark at $1.
Failure to sustain this foothold could trigger relentless declines to the Feb 25 swing low at $0.61.
That would mean an over 85% decline from current prices.
Crypto market overview: is the bull cycle over?
CryptoQuant’s Ki Young Ju emphasized that Bitcoin could witness a year-long consolidation as the “bull cycle is over.”
#Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.
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He highlighted that new Bitcoin whales are offloading at a loss, signaling more pain for the top cryptocurrency.
Bitcoin trades at $83,082 after losing 0.75% in the past day and nearly 15% in the previous month.
The post Altcoins today: Solana pulls controversial ad, Pi Coin nears $1 breakdown appeared first on Invezz
