Emre Yumlu 
In the past 24 hours, Pi Network (PI) has gained an impressive 22.06%, outperforming the broader crypto market. But what’s driving this surge? The main factors behind PI’s rally include bullish technical indicators, reduced exchange supply, and the positive sentiment from Bitcoin’s recent rally.
Pi Coin: Technical Indicators Point to a Bullish Reversal
Pi (PI) broke above its 7-day simple moving average (SMA) at $0.207, testing the Fibonacci 23.6% resistance at $0.251. A “falling broadening wedge” formation appeared on the daily chart — a technical pattern that often signals weakening bearish momentum and a potential reversal. The Relative Strength Index (RSI) also rebounded from 32 to 46, indicating renewed buying interest among traders.
Analysts suggest that this technical breakout could mark the start of a short-term uptrend. Short-term moving averages crossing above mid-term ones reinforce the strength of this momentum. However, the 200-day SMA at $0.48 remains a major resistance level. A daily close above $0.28 could open the path toward $0.36, while a drop below $0.25 might trigger profit-taking.
Exchange Withdrawals Create a Supply Shock
In October, more than 10 million PI tokens were withdrawn from centralized exchanges, easing sell-side pressure and reducing liquid supply. This move coincided with Pi Network’s KYC system upgrade, which verified 3.36 million users, allowing 2.69 million of them to migrate to the mainnet.
With fewer tokens circulating on exchanges, even moderate demand can have a larger impact on prices. Still, investors are watching closely, as 121 million PI tokens are set to unlock in the next 30 days — a development that could temporarily increase selling pressure.
Boost from Bitcoin’s Rally
Pi (PI) surged in tandem with Bitcoin’s 2.4% rise to $116,000, supported by optimism surrounding the U.S.–China trade outlook and easing inflation data. The overall crypto market capitalization grew by $100 billion, with altcoins like ZEC (+15%) and BCH (+6.4%) also posting strong gains.
Pi’s 0.87 correlation coefficient with Bitcoin means it tends to mirror BTC’s movements during bullish periods. However, a 1,089% increase in trading volume and a 5.48 turnover ratio indicate elevated volatility — a reminder that speculative trading may be playing a role in the rally.
What Is Pi Coin?
Pi Network is a Layer-1 blockchain project designed to make participation in the Web3 ecosystem accessible to everyone. Recognized as one of the most popular Layer-1 coins of 2025, Pi Coin (PI) serves as the network’s native cryptocurrency.
Unlike traditional mining methods, Pi mining can be done on a smartphone, offering a low-cost and energy-efficient alternative to Bitcoin. The project promotes an inclusive digital economy based on the principle of being “by the people, for the people.”
*This content does not constitute investment advice.
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