Pi Network tops $0.09 as the broader crypto market rally
Key takeaways
- Pi Network trades at $0.09 after recording three consecutive bullish daily closes earlier this week.
- Expanded US Treasury bond buybacks have improved risk appetite and pushed Bitcoin toward $70,000, but PI continues to underperform.
- The token must break above the psychological $0.1000 level and the 50% Fibonacci retracement at $0.1022 to extend its recovery.
Pi Network (PI) trades around $0.090 on Thursday, preserving its three-day recovery from earlier in the week but continuing to lag behind the broader cryptocurrency market.
Renewed risk appetite has pushed Bitcoin above $71,000 after the US Treasury expanded its longer-term securities buyback operations.
However, PI has failed to attract enough buying pressure to produce a comparable rally.
The token must overcome the psychological $0.1000 threshold to strengthen its recovery and support a more sustained bullish move.
Treasury buybacks lift crypto sentiment
The US Treasury announced that it would at least double the maximum size of certain liquidity-support buyback operations from $2 billion to $4 billion per transaction.
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