- Bitcoin (BTC) dropped to $104,000 on Oct. 17 but later recovered to $115,000.
- Pi Coin (PI) is the second-best performing cryptocurrency among the top 100 projects in the last 24 hours.
- PI’s price rose 17.1% in 24 hours and 18.2% over the last week, though it is still down 10.1% monthly.
- Pi Coin has been integrated into the SWIFT system for cross-border transactions, enhancing its utility.
- CoinCodex analysts predict a potential price correction of about 22%, with PI expected to drop to $0.188 soon.
The cryptocurrency market is showing signs of recovery after a recent dip. On October 17, Bitcoin (BTC) fell to approximately $104,000 but has since climbed back up to $115,000. During this period, Pi Coin (PI) recorded notable gains, becoming the second-best performing crypto among the top 100 projects in daily charts.
According to CoinGecko data, PI’s price surged 17.1% in the past 24 hours, 18.2% over the last week, and 14.7% in two weeks. Despite this improvement, PI remains 10.1% lower than a month ago.
The price rally may be linked to increased market inflows and a boost in investor confidence following Bitcoin’s rebound. Additionally, reports indicate that Pi Coin has been integrated into the SWIFT system, the global network for cross-border bank transactions. This integration was confirmed by OKX, a crypto exchange, stating that the “Pi Bank Cross Border Bank has been successfully activated internally and Pi is thus integrated into the SWIFT system.”
Market analysts from CoinCodex caution that this rally might be short-lived. Their forecast suggests Pi Coin could decline by approximately 22%, falling to $0.188 before stabilizing.
The broader crypto market remains delicate amid ongoing trade tensions and macroeconomic challenges. While some optimism exists due to possible trade agreements between the U.S. and China, these factors maintain uncertainty around Pi Coin’s short-term trajectory.
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