Author
Eddie Tofpik
ADM Investors Services International Limited
Eddie Tofpik has over thirty years experience in international commodity markets & twenty five years experience in the foreign exchange markets and brings a wealth of knowledge & understanding to his topic.
The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels.
Cardano is trading near $0.170 at the time of writing on Friday after staging a modest rebound from last week's sharp correction. However, the recovery remains fragile as large holders have resumed reducing their positions, adding fresh selling pressure to ADA.
Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support.
Pi Network is trading at around $0.120 on Friday after a modest recovery the previous day. Despite this recent rebound, traders should be cautious as a scheduled unlock of 14.8 million PI tokens on Friday could limit the token's recovery potential by increasing market supply.
![FX & Bitcoin broadcast at CME London today! [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoin_5.jpg)