Pi Network Coin rose 13% to $1.68 on Thursday, partially recovering from recent losses. However, the cryptocurrency remains down 44% from its all-time high of $2.98, underscoring ongoing volatility in the broader crypto market.
The crypto market rebounded strongly, with Bitcoin surging to $84,000 and XRP rising 4%, while Ethereum, BNB, and Solana also posted notable gains.
The recovery follows a sharp sell-off earlier in the week, driven by macroeconomic uncertainties and investor concerns over US President Donald Trump‘s tariff policies. Bitcoin had slipped below $77,000, reaching a four-month low before bouncing back as investor sentiment improved.
“Bitcoin has demonstrated resilience, surging over 2% despite market challenges. This comes after a lower-than-expected U.S. CPI report, which typically supports bullish sentiment. However, trade tensions have tempered enthusiasm,” said Shivam Thakral, CEO of BuyUcoin.
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Edul Patel, CEO of Mudrex, noted, “Bitcoin is trading between $80,000 and $84,000 as trade tensions escalate. While softer CPI data initially drove a rally, the EU’s counter-tariff announcement triggered profit booking. Investors should monitor the US’s response as it could bring further volatility.”Despite gains, Pi Coin remains 44% below its peak, reflecting continued market volatility. However, some analysts see long-term potential if adoption increases and major exchanges list the token. OKX has announced plans to enable Pi Coin trading, provided the network meets listing criteria and completes a successful transition to Open Mainnet.Also Read: Trump signs order to establish strategic bitcoin reserve
For Pi Coin to reach higher valuations, market watchers emphasize the need for strong demand, increased liquidity, and broader real-world adoption. Regulatory clarity and institutional interest will also be key factors in determining its future trajectory.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)