Bitcoin investment/ Bitdeer Bitcoin purchase/ Pi Network

 Bitdeer’s $4M Bitcoin investment shakes the crypto market, with Cardano dropping to 23% and Pi Coin dropping to 11.1%. Click to discover key insights

Bitdeer’s $4M Bitcoin Investment, Cardano Drops 23%, Followed By Pi Coin Falls 11.1%

Bitdeer Bitcoin purchase amid its crash, which cost a massive sum of $4 million, has shaken the crypto space. Bitdeer is a major cryptocurrency mining firm whose shares rose 0.6% in after-hours trading, signaling investor confidence in the company’s long-term strategy. Meanwhile, Cardano’s price has also fallen 23% this week, with on-chain data suggesting weak network demand and a potential further decline.

While these two major events occurred amid the uncertainty in the crypto world, Pi Coin has also experienced extreme volatility, resulting in the coin surging over 300% after the Pi Network Open Mainnet launch before falling 11.1% to $2.49. As of February 28, 2025. Below, you’ll discover these event insights briefly to learn about the crypto market of February 2025.

Bitdeer 50BTC Deal, Cardano 7% Down & Pi Coin Dropped 

Bitdeer Bitcoin purchase has shocked the crypto world. It is a Singapore-based cryptocurrency mining firm that shared this news recently on X. The update mentioned the Bitender acquisition of 50 BTC at an average price of $81,475. This acquisition brought their total Bitcoin holdings to over 640 BTC, which makes up approximately 0.003% of Bitcoin’s total supply, according to BiTBO.  

Meanwhile, Cardano (ADA) continued its decline, down nearly 7% on Friday to around $0.60, with on-chain data showing falling network activity and a technical outlook suggesting further downside potential. Following this downtrend, Pi Coin also dropped, fluctuating between $0.70 and $2.86 over the past week. This volatility is largely attributed to heightened speculative trading and broader market instability.  

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Today, we acquired 50 more <a href=”https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw”>#BTC</a> at a price of $81,475 each. <a href=”https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw”>#Bitcoin</a> <a href=”https://twitter.com/hashtag/BitcoinHoldings?src=hash&amp;ref_src=twsrc%5Etfw”>#BitcoinHoldings</a> <a href=”https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw”>#BTC</a> <a href=”https://twitter.com/hashtag/btcmining?src=hash&amp;ref_src=twsrc%5Etfw”>#btcmining</a> <a href=”https://twitter.com/search?q=%24BTDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw”>$BTDR</a> <a href=”https://t.co/J0z1DDb8E2″>pic.twitter.com/J0z1DDb8E2</a></p>&mdash; Bitdeer (@BitdeerOfficial) <a href=”https://twitter.com/BitdeerOfficial/status/1895361850470195296?ref_src=twsrc%5Etfw”>February 28, 2025</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

Bitdeer Bitcoin Investment & Cardano Crash 

Bitdeer recently made one more purchase, which is a 101 MW natural gas plant in Alberta that cost $21.7 million, with plans to utilize it for Bitcoin mining and potential expansion to 1 GW. The company also got approval to construct a 99 MW interconnection grid in collaboration with the Alberta Electric System Operator. This project, valued at approximately $30 million (or $300,000 per MW), will support increased data center capacity dedicated to Bitcoin mining. 

Meanwhile, Cardano’s price encountered resistance at its descending trendline, which has been forming since mid-January, leading to a 15% decline after February 21. By Monday, it had dropped below its weekly support at $0.74 and continued falling an additional 6% over the next three days. According to TradingView Data, as of February 28, Cardano is trading at the time of writing at $0.59, reflecting a decline of 6.93%.

Source: Trading View

Cradano & Pi Coin Future Insights  

Cardano (ADA) is currently experiencing a strong downtrend, with the potential to decline by another 16% from its current level, possibly retesting its February 3 low of $0.50. According to the analysis of FxStreet, the crypto is currently experiencing selling pressure; it could also indicate that a reversal or temporary bounce is possible. On-chain data from Santiment further reinforces the bearish outlook for ADA. The daily active addresses index, which measures network activity, has declined significantly. In early February, there were 49,585 active addresses, but by Friday, that number had dropped to 24,609.

Talking about Pi Coin, its long-anticipated Open Mainnet launch has finally enabled users to transfer their mined coins beyond the Pi network. As of February 28, Pi Coin is trading at $2.30, highlighting its ongoing price fluctuations, as mentioned above. Pi Coin is surrounded by crypto enthusiasts speculating about its potential listing on major exchanges, particularly Binance, which has fueled market interest. A Binance community vote revealed that 86% of participants support the listing, though an official decision has yet to be made.