The cryptocurrency markets have seen a boost over the previous 24 hours, likely driven by increasing optimism regarding potential interest rate cuts in the U.S. Recent CPI data, which was lower than predicted, reinforced the claims that rates should be decreased during the upcoming FOMC meeting, despite prior indications that a pause might be forthcoming.

Bitcoin’s price has surged to a two-month high of $96,600, with many alternative coins also experiencing substantial growth. In contrast, the Pi Network’s token (PI) has only managed a modest rise of 1.5%.

Price of Pi Network (PI) on CoinGecko

This trend has persisted over recent months, as the token’s performance diverges from the majority. While the market was undergoing significant declines in November, PI maintained stability and even recorded some gains momentarily.

Earlier this year, as Bitcoin moved toward the $95,000 mark and many altcoins thrived, PI remained stagnant, struggling to surpass its consolidation range between $0.20 and $0.22.

Currently, with its slight daily increase, PI lacks the momentum for a substantial breakout. Despite this, the community surrounding the project remains optimistic, sharing various ambitious price targets on social media, some suggesting levels of $100 or even $314, which seem unrealistic given the current circumstances.

AI predictions suggest there’s only a slim chance for PI to break free from its stagnation unless a significant catalyst emerges from the project itself. A recent update published last week did not create the intended excitement needed for a breakout.