Bitcoin and Solana Hit Hard by War Fears, Pi Network Rises Alone

▲ Bitcoin (BTC), Solana (SOL) / ChatGPT-generated image

Amid rising concerns over a potential U.S. military strike on Iran, geopolitical tensions in the Middle East are intensifying. As a result, major cryptocurrencies including Bitcoin (BTC) and Solana (SOL) are trending downward in tandem. In contrast, only Pi Network (PI) has recorded an independent rebound, drawing mixed reactions from the market.

According to a February 19 report by crypto-focused outlet CoinGape, downward pressure is mounting across the digital asset market as the probability of U.S. President Donald Trump launching an attack on Iran increases. Data from Polymarket shows the odds of President Trump striking Iran before March 31 have surged to 61%. The likelihood of a U.S. attack by the end of the year has climbed to 78%. Such tensions are undermining cryptocurrencies’ standing as safe-haven assets and heightening investor risk aversion.

Technically, Bitcoin has formed a bear flag pattern, putting it at risk of further decline. Currently trading below all major moving averages, Bitcoin is nearing the convergence point of a symmetrical triangle. If a strong downside breakout occurs, it could plunge to the key support level of $60,000. Persistent inflation concerns and the possibility of delayed rate cuts by the Federal Reserve are also weighing heavily on Bitcoin’s price.

Solana has also continued its steep decline this year, maintaining technical weakness. After falling for four consecutive days amid heightened geopolitical risks, Solana has slipped below the $95 support level, its lowest point since April last year, and, like Bitcoin, is displaying a bear flag pattern. Analysts warn that if Solana breaks below this year’s low of $67, it could fall further to the $50 range. However, in the long term, a rebound scenario that retests the $100 resistance level remains possible.

Meanwhile, Pi Network has delivered notable gains, surging from $0.1300 to $0.2057 this week even as most cryptocurrencies declined. The Supertrend indicator has shifted from red to green, signaling bullish momentum. However, if physical conflict in the Middle East becomes a reality, Pi Network is also expected to face price pressure. Currently, Pi Network is holding above the 50-day moving average convergence divergence (MACD) level and attempting to break above this week’s high.

The Trump administration’s hardline foreign policy stance and the Middle East’s military buildup could drive up oil prices and inflation, tightening liquidity across the broader digital asset market. With Federal Reserve officials leaving open the possibility of rate hikes if inflation persists, extreme volatility is expected in major assets including Bitcoin and Solana until geopolitical uncertainty subsides. Investors are closely monitoring developments in the Middle East alongside the progress of the U.S. crypto market structure bill (CLARITY) scheduled for April.

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