 ▲ Pi (PI) / ChatGPT-generated image |
Pi Network (PI), which had plunged to an all-time low, has staged a dramatic comeback with a surge of nearly 20%, signaling the start of a potential reversal. Bitcoin (BTC), the market leader, also briefly surpassed the $70,000 mark, adding momentum to the weekend rally and spreading optimism across the broader cryptocurrency market.
According to U.Today on February 14 (local time), Pi Network rebounded about 20% from the bottom recorded just days earlier, demonstrating strong resilience. The token had fallen to around $0.13 and was largely ignored by the market, but a recovery in overall investor sentiment and a wave of bargain buying laid the groundwork for the rebound. Trading volume also jumped 44% from the previous day, reflecting heightened market interest.
Bitcoin temporarily broke above the psychologically significant $70,000 level. The rally was driven by lower-than-expected U.S. Consumer Price Index (CPI) data and continued inflows into spot Bitcoin ETFs. In particular, the 78% correlation between Bitcoin and gold has revived its appeal as an inflation hedge, supporting the recent price increase.
Major altcoins such as Ethereum (ETH), Solana (SOL), and XRP also posted gains, raising expectations for further upside over the weekend. XRP is trading up more than 7%, while Solana has climbed over 8%, showing a clear recovery trend. Although the Crypto Fear and Greed Index remains in the extreme fear zone, analysts note that improving technical indicators suggest the market may be forming a bottom.
Industry observers believe this weekend could serve as a critical turning point in determining the short-term direction of the crypto market. The key question is whether Bitcoin can break through the strong resistance at $70,000 and establish it as a new support level. Attention is also focused on whether Pi Network’s sharp rebound will prove temporary or mark the beginning of a longer-term uptrend.
For the recovery in major assets led by Bitcoin to continue, increasing trading volume and a stable macroeconomic environment will be essential. As price movements over the weekend are expected to shape market sentiment for the coming weeks, investors around the world are closely watching the charts.
Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on it. The information provided should be interpreted for informational purposes only.