Pi Network (PI) appreciates over 3% at press time on Friday, marking the end of a week-long consolidation phase and teasing a potential channel breakout that would add to the possibility of further gains ahead. However, chances of a breakout are limited given the increase in Centralized Exchanges (CEXs) wallet balances, which indicates a decline in retail demand.
Bitcoin (BTC) steadies around $115,000 at the time of writing on Friday, having recovered nearly 4%. This recovery is further fueled by strong institutional inflows and renewed corporate accumulation this week. Market optimism is further supported by growing expectations of a Federal Reserve (Fed) rate cut next week, with traders even assigning a small probability to a larger 50-basis-point (bps) move.
Decentralized Finance (DeFi) protocols such as Raydium (RAY) and Jupiter (JUP) rank among the top performers in the broader cryptocurrency market on Friday, fueled by the Solana (SOL) rally. The technical outlook suggests further recovery in Raydium and Jupiter underpinned by increased retail demand on the respective platforms and derivatives markets.
