Gate Cryptocurrency News and Market Analysis

Pi Network (PI) surged over 25% in March, but CEX deposits skyrocketed to 3.91 million coins, indicating profit-taking pressure is accumulating. Social media buzz is increasing, and technical indicators are bullish, but the overall trend remains bearish. The resistance level is at $0.2396, and the support is at $0.1977. Large deposits suggest a possible local top, so caution is advised.

Bitcoin (BTC) is currently maintaining a price of around $70,000. The Chairman of the U.S. Securities and Exchange Commission (SEC) announced that they will coordinate with the Commodity Futures Trading Commission (CFTC) for joint meetings regarding product applications. Additionally, the case of Tornado Cash co-founder Roman Storm will be retried. The market is volatile due to geopolitical influences, and investor sentiment is poor, but a significant decline in the short term is unlikely.

TRUMP Token recently dropped to $2.87, with a total decline of over 96%, hitting a record low. Its decline is related to the sharp drop in President Trump's approval ratings, indicating that waning political enthusiasm has a significant impact on token valuation. The market is sensitive to geopolitical volatility, and with WLFI tokens also under pressure, it demonstrates the high-risk nature of political-themed meme coins.