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 cryptocurrency remains in the spotlight of traders due to its recovery after a recent decline. The coin fell to $0.150, but the latest data shows its current value at $0.17 with a 24-hour low of $0.16. This modest increase occurs amid a significant decrease in trading volumes, which amount to $3.20 million per day, indicating an unstable recovery in the market.
Seller Pressure and Platform Reserves
NS3.AI reports that the main pressure on the PI coin continues to come from processes related to the reduction of reserves on major exchanges. This factor previously had a significant impact on price dynamics. However, volatility remains high, especially considering potential token unlockings in the near future, which could increase supply on the market and trigger new price pressures.
Geopolitical Risks and Their Impact on Cryptocurrencies
The current wave of volatility is not only related to internal factors of the PI coin. Geopolitical tensions, including the introduction of new tariffs and trade restrictions, have contributed to overall instability in the cryptocurrency market. These external factors have created additional context for fluctuations in the coin’s value.
Synchronization with Bitcoin and Ethereum Declines
Current data shows that Bitcoin (BTC) has fallen by 6.07% over the last 24 hours and is trading at $82.80K, while Ethereum (ETH) has dropped by 7.08% to $2.73K. These declines in major digital assets have created an overall unfavorable background for the entire cryptocurrency market, including the Pi coin. The synchronized dynamics of these assets indicate that market conditions remain challenging for most tokens.
Development Prospects
Unresolved issues regarding potential unlockings and the impact of macroeconomic factors remain on the horizon. The Pi coin may stay unstable in the short- and medium-term, depending on how geopolitical situations and overall trends in the larger cryptocurrency market develop.