Shocking Crypto Rollercoaster: What You Need to Know This Week! 🎢💰

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In the grand theater of finance, where fortunes are made and lost with the flick of a tariff, cryptocurrencies dance like marionettes on strings pulled by unseen hands. The recent antics of President Donald Trump, with his whimsical 25% tariffs, have sent Bitcoin (BTC) tumbling below the hallowed ground of $83,000, only to rise again like a phoenix to $90,000, as if mocking the very laws of gravity.

Yet, as the sun sets on this week, Bitcoin finds itself once more beneath the $83,000 mark, nursing a bruising 11.8% decline over the past seven days. Ethereum (ETH), that noble steed, hovers above $2,000, down 18.2% in the same grim period. Ah, the fickle nature of these digital coins!

As we embark on another week, crypto.news has chosen to shine a spotlight on three altcoins: Arbitrum (ARB), Flare (FLR), and Pi Network (PI). Let us delve into their tales, fraught with drama and intrigue.

Arbitrum

Once a shining star in the crypto cosmos, Arbitrum has been on a downward spiral for two long years. In the year of our Lord 2023, it reached a dizzying height of $2.4253, only to plummet to a dismal low of $0.312. What, you may ask, caused this tragic fall from grace? The answer lies in its highly dilutive nature, with a circulating supply of 4.41 billion against a total of 10 billion coins. Each day, it releases 479,068 new tokens, and this week, a staggering 93.2 million will be unlocked, continuing until April 2027. Talk about a long wait for a party that never seems to start!

As the token slips below the crucial support level of $0.4310, it remains trapped beneath the 50-day moving average, while the Relative Strength Index drifts downwards like a lost soul. The future looks bleak, with whispers of a potential drop to $0.25 echoing in the corridors of speculation.

Arbitrum, the brainchild of Offchain Labs, was birthed in the bustling streets of New York by the trio of Steven Goldfeder, Ed Felten, and Harry Kalodner. A tale of ambition, indeed!

Flare

Next, we turn our gaze to Flare, another cryptocurrency that has captured the attention of the masses. With an unlocking of tokens worth $28.16 million, equivalent to 2.90% of those in circulation, it has already released about 68% of its total tokens. Yet, like a soap opera star, it has retreated from a high of $0.03840 to a low of $0.01575, its lowest since November 15. The drama continues as it crashes below the 50-day moving average.

But fear not! A glimmer of hope appears in the form of a falling wedge pattern, suggesting that Flare may soon bounce back, perhaps even retesting the 50-day moving average at $0.0220. Will it rise like a hero in a classic tale? Only time will tell!

Flare, crafted by the ingenious minds at Flare Networks—Hugo Philion, Sean Rowan, and Francisco Riordan—aims to bridge the gap between smart contracts and the non-smart-contract realms of Bitcoin and XRP. A noble quest, indeed!

Within its ecosystem, the token serves many roles, from governance to participation in the Flare Time Series Oracle, where users can earn rewards. It can even be used as collateral in decentralized finance (DeFi) applications. Truly, a multitasker!

Pi Network

Lastly, we arrive at Pi Network, the tap-to-earn token that has seen better days. Recently, it has plummeted to a low of $1.3960, its lowest since February 2023, following the revelation that it would unlock over 1.4 billion tokens this year. The price has dipped below the key support level of $1.5337, forming a bearish pennant pattern, as if it were a sad clown in a circus.

Technical indicators suggest that

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2025-03-09 22:33