Pi Coin Rises 83% From Record Low; Bitcoin Crosses $104,200; Why Are Cryptocurrencies Increasing in Value?
Cryptocurrency market: Thus far, May has seen a robust start for the industry. The biggest cryptocurrency, Bitcoin, surpassed the $104,000 barrier this week on the strength of bulls, while other digital currencies, including Ethereum, Solace, XRP, Dogecoin, and BNB, all saw strong increases. As expectations for a listing on Binance grow, the recently launched PI Coin is once again in the spotlight. Additionally, investors feel optimistic about PI Network’s upcoming major announcement on May 14.
Bitcoin Price:
As of this writing, Bitcoin was trading at $103,190.95, up 0.5% on CoinMarketCap. But the cryptocurrency recovered and reached a high of $104,297.49 during the day. Despite this, Bitcoin’s market value fell 16% to $55.05 billion in the last day, but its market capitalization increased by about 1% to $2.04 trillion. However, throughout seven trading sessions, Bitcoin surged by 7%. The alternatives to Bitcoin have performed better.
Bitcoin has risen above the $100,000 mark indicates strong positive momentum. Ethereum is also strong, trading above $2,000, and its upward trend is aided by a rise in whale activity and a revival in DeFi activity. According to Himanshu Maradiya, Founder and Chairman of CIFDAQ, altcoins like as GALA, OP, and ENJ have performed better than others. Maradiya explained the jump by saying that it is the second leg of a larger bullish rally and that we may no longer have the chance to purchase Bitcoin below $100,000. This surge highlights the cryptocurrency market’s quick development and increasing recognition as a mainstream asset class, as institutional interest is increasing.
The psychologically critical $100,000 milestone has been regained by Bitcoin for the first time since early February, according to Edul Patel, co-founder and CEO of Mudrex, who also noted that the cryptocurrency had gained 39% from its recent lows. With more than $5 billion pouring into Bitcoin Spot ETFs, this increase is mostly attributable to rekindled institutional interest. These inflows increased investor confidence in Bitcoin’s long-term direction in addition to supplying new liquidity.
Additionally, whale activity has increased; in the last six weeks, they have amassed almost 81,000 BTC, indicating high conviction. The trend is further accelerated by better international trade relations, which predict a robust economy and draw in more investment. This bullish trend is supported by on-chain activity, as the Bitcoin network processed $12.5 billion in transactions in a single day, which is 25% more than the average for the previous week, Patel continued. Throughout seven sessions, Ethereum surged 27%, XRP 7%, BNB 10%, and Solana 15% each. Dogecoin, supported by Elon Musk, too, saw a nearly 17% increase. Avalanche, Cardano, TRON, SUI, Chainlink, and Stellar all saw 5%–15% increases in value.
PI Coin Rises
Pi Coin was trading at $0.7318 at the time of writing, up 8%. This was close to the high of $0.778 for the day. The market value and volume of Pi Network’s cryptocurrency increased. In the last day, Pi Coin’s volume surged by 123%, reaching $364.91 million. Its market capitalization also increased by 8.5% to $5.17 billion. Pi Coin has risen by around 83% from its lowest point of $0.4012, which was reached on April 5, 2025, due to the most recent robust rebound. Pi Coin is rapidly approaching $1. PI Coin rises by around 24% in just seven sessions.
The huge announcement that is expected to occur on May 14 is causing investors to ride the wave. “On May 14, a Pi ecosystem announcement will be made,” PI Network stated. Watch closely to see what happens next.
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