Pi Network price rejects sharply at $0.29: can the uptrend hold?

The recent surge in Pi Coin's price, which reached $0.2795, has raised concerns about a potential crash following the Federal Reserve's rate decision. While the token has shown impressive gains, analysts warn that market volatility and economic factors could lead to a downturn. This situation is crucial for investors to monitor, as it highlights the risks associated with cryptocurrency investments, especially in a fluctuating economic landscape.

The Pi Network price has bounced back significantly after hitting the 0.618 Fibonacci Golden Pocket, indicating a potential reversal towards the $0.29 resistance level. This bullish reaction is crucial as it suggests that the cryptocurrency is gaining momentum and could be on the path to recovery, attracting the attention of investors looking for promising opportunities in the market.

Pi Network is gearing up for an upgrade to align with ISO 20022 by November 2025, raising questions about its competitiveness against established players like XRP Ledger and Stellar Network in the realm of cross-border finance. This upgrade is significant as it could enhance Pi Network's capabilities and interoperability in the financial sector, making it a player to watch in the evolving landscape of digital currencies.

Pi Network is gearing up for an upgrade to align with ISO 20022 by November 2025, raising questions about its competitiveness against established players like XRP Ledger and Stellar Network in the realm of cross-border finance. This upgrade is significant as it could enhance Pi Network's capabilities and interoperability, potentially positioning it as a viable option in the evolving landscape of digital currencies. The outcome of this upgrade will be closely watched by industry experts and users alike.

A Chinese man named Liang Ai-Bing was arrested in Bangkok for allegedly running a Ponzi scheme that defrauded investors of over $14 million. This incident highlights the growing concerns around cryptocurrency-related crimes, especially in regions where regulations are still developing. The case not only raises alarms about investor safety but also underscores the need for stronger oversight in the crypto market.

Bitcoin's recent performance has taken a hit, dropping nearly 4% in just 24 hours, despite the Federal Reserve's decision to cut interest rates. Analysts are now cautioning that the upcoming weekly close is critical for Bitcoin's short-term outlook. This decline raises concerns among investors, especially as it marks the first time in a week that Bitcoin has fallen below its local range low. The situation is particularly tense as Ethereum also prepares for significant market movements, indicating a volatile period ahead for cryptocurrencies.

Ethereum has recently dropped to $3.7K, but analysts from Santiment suggest that the low exchange supply combined with a rise in short positions could indicate a potential price rebound. This situation highlights the typical dynamics of market cycles and investor behavior, making it a crucial moment for traders and investors to watch.

AUSTRAC has taken action against a crypto ATM operator due to concerns over potential money laundering activities. This move highlights the increasing scrutiny on cryptocurrency operations and the need for compliance with financial regulations. As the crypto market continues to grow, regulatory bodies are stepping up efforts to ensure that these platforms do not facilitate illegal activities, which is crucial for maintaining trust and security in the financial system.

Coinbase has reported an impressive $1.9 billion in revenue for the third quarter, marking a 25% increase driven by robust retail and institutional trading activity. This surge reflects a significant rebound in the cryptocurrency market, showcasing Coinbase's effective strategy as it expands its 'Everything Exchange' vision. The company's focus on derivatives and stablecoins positions it well for future growth, making this news particularly relevant for investors and crypto enthusiasts alike.

Dogecoin has experienced a significant drop of 5.5%, breaking through the crucial support level of $0.1940 amid a spike in trading volume. This decline is concerning for investors as it indicates potential instability in the cryptocurrency market, raising questions about the future performance of Dogecoin and similar assets. Understanding these fluctuations is essential for anyone involved in cryptocurrency trading.