Pi Network Hits New All‑Time Low as Bitcoin Slides Below $88,000 – Market Watch After the FOMC Meeting
January 29, 2026 – Global crypto markets remain on a downward trajectory, with Bitcoin struggling to stay above the $88 k threshold and a slew of altcoins, including Pi’s native token, recording fresh record lows.
Bitcoin: From $95 k to Under $88 k in a Week
The flagship cryptocurrency showed relative calm immediately after the Federal Reserve’s first 2026 FOMC meeting of the year, but the reprieve was short‑lived. By mid‑week, BTC had slipped beneath the $88 000 mark, a level not seen since early December.
The slide began after Monday’s opening of equity and futures markets, where President Donald Trump’s renewed tariff rhetoric towards several EU nations sparked risk‑off sentiment. After briefly hovering above $95 k over the weekend, Bitcoin fell to $92 k on Monday and breached the $88 k line on Wednesday.
A brief rally on Friday pushed the price to just above $91 k, yet the recovery proved fleeting. The following Monday the coin dropped to $86 k – its lowest point in more than a month – before inching back into the $88 k–$89 k band and briefly peaking at $90.5 k ahead of the FOMC decision. Once the Fed signalled a pause on interest‑rate cuts, the price settled back near $89 k and, as of press time, is lingering just under $88 k.
- Market cap: Approximately $1.75 trillion
- Dominance: Around 57.4 % of total crypto market capitalization (CoinGecko)
Altcoin Market: Broad‑Based Weakness
The bearish bias extended to most large‑cap altcoins on a daily chart:
| Asset | Current Level | Notable Support Breached |
|---|---|---|
| Ethereum (ETH) | ~ $2 900 | $3 000 |
| Ripple (XRP) | < $1.90 | $2.00 |
| Binance Coin (BNB) | < $900 | $950 |
| Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Bitcoin Cash (BCH), Sui (SUI) | Down 5‑10 % range | Various recent supports |
| Tron (TRX) | Slight uptick | – |
| PUMP & ZEC | Largest decays in the past 24 h (≈ 6‑8 % drop) | – |
The overall cryptocurrency market lost more than $60 billion in value in a single day, bringing total market capitalization to roughly $3.05 trillion.
Pi Network’s PI Token Sets a New All‑Time Low
Pi’s native token, PI, continued its downward drift, breaking its previous all‑time low within the last few trading hours. The token’s price erosion mirrors the broader altcoin sell‑off and follows a series of frequent network updates that have failed to stabilize market sentiment.
While the exact price was not disclosed in the source material, analysts note that the token’s decline is part of a larger pattern where newer or lower‑liquidity assets are hit hardest during macro‑driven market stress.
Contextual Factors Influencing the Slide
- Fed Policy Stance – The FOMC’s decision to hold rates steady removed a potential catalyst for risk‑on buying, leaving investors cautious.
- Geopolitical Tensions – President Trump’s renewed tariff threats toward EU nations added a layer of uncertainty, prompting a risk‑off shift across both traditional and digital assets.
- Technical Weakness – Bitcoin’s breach of the $90 k and $95 k psychological levels, combined with a loss of the $3 k support on Ethereum, has reinforced bearish technical setups.
Key Takeaways
- Bitcoin’s resilience is being tested: The coin is now wrestling with sub‑$88 k levels, suggesting that the next catalyst—whether a dovish Fed move or a macro‑economic development—will be crucial for its next directional move.
- Altcoins are under pressure: Most large‑cap altcoins have slipped below critical support zones; only a few, such as TRX, show modest gains.
- Pi Network’s PI token joins the list of assets hitting fresh lows, highlighting how newer tokens can be especially vulnerable during market-wide downturns.
- Overall market contraction: With the total crypto market cap down $60 billion and sitting near $3.05 trillion, the sector is experiencing a significant contraction that may linger until clearer macro signals emerge.
Investors are advised to monitor upcoming economic data releases, central‑bank communications, and any geopolitical developments that could either reignite risk appetite or extend the current bearish phase. As always, thorough due diligence and risk management remain paramount in the volatile crypto environment.
Source: https://cryptopotato.com/pi-networks-pi-sees-new-atl-bitcoin-btc-slips-below-88k-after-fomc-meeting-market-watch/
