The cryptocurrency markets have rallied over the past 24 hours, perhaps led by more optimism on the rate-cut front in the United States.
The CPI data that came out yesterday was once again lower than expected, which only reaffirmed the POTUS’s claims that the rates should be lowered during the late January FOMC meeting, even though previous reports said Powell would pause the cuts.
Bitcoin’s price surged to a two-month high of $96,600, while many altcoins have marked significant gains. Although also in the green, Pi Network’s native token has failed to follow suit, and it’s up by only 1.5% in the past 24 hours.
This has been an evident trend for the token for the past few months. Its performance has been quite different from that of most other altcoins. In November, when the market was crashing, PI remained relatively still and even charted some gains at one point.
In early January 2026, when BTC surged toward $95,000 and some alts were up by double digits, PI stood behind and couldn’t break out from its $0.20 and $0.22 consolidation range.
The landscape appears similar, at least for the time being. PI’s minor daily increase hasn’t provided the necessary push for a more profound breakout. As usual, the project’s community appears bullish, posting numerous price predictions on X with some ridiculous targets of $100 or even $314 per token, which are unattainable at this point, to say the least.
However, some popular AI models believe there’s a minor chance of a sustained breakout from PI unless there’s a major catalyst coming from the project itself. The latest update, published at the end of last week, couldn’t do the job for now.
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