Pi Network’s native token has staged a sharp recovery after days of heavy losses, while Bitcoin rallied toward the $65,000 mark following a lower than expected US inflation report.
Most major cryptocurrencies also traded higher, with Ethereum approaching $1,900 and several altcoins posting notable gains, including ZEC, CC, LINK, and HYPE.
Bitcoin Surges After CPI Surprise
Bitcoin began recovering last Wednesday after a volatile start to the week that was fueled by Strategy’s largest Bitcoin sale on record and renewed tensions between the United States and Iran following the collapse of a ceasefire.
The leading cryptocurrency climbed steadily from around $61,600 and reclaimed the $64,000 level over the weekend, where it traded in a relatively narrow range.
Renewed geopolitical concerns briefly pushed Bitcoin back below $62,000 on Monday, shifting market attention to the release of June’s US Consumer Price Index data.
While economists had already expected inflation to cool from May’s reading, the report came in even lower than forecast, showing annual inflation at 3.5%. The softer data sparked an immediate rally that lifted Bitcoin above $65,000, its highest level in roughly three weeks.
At the time of writing, Bitcoin had pulled back slightly to around $64,500. Its market capitalization has climbed to nearly $1.3 trillion, while its dominance over the broader crypto market remains steady at 56.7%.
Pi Network Leads the Recovery
After recording consecutive all time lows over the past several days, Pi Network finally found support near $0.07 and mounted a strong rebound.
The token has surged approximately 16% over the past 24 hours, pushing its price back above $0.085 and making it one of the day’s strongest performers.
PUMP also delivered double digit gains, rising 14% to around $0.0166.
Among the larger cryptocurrencies, ZEC led the advance with a 9% jump to more than $550. CC also posted solid gains, while LINK and HYPE each added around 5%.
Ethereum climbed by a similar percentage to trade above $1,870, while BNB, XRP, SOL, and RAIN also finished the day in positive territory with more modest advances.
The broader crypto market added more than $60 billion in value over the past 24 hours, lifting the total market capitalization to approximately $2.28 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
