ISLAMABAD – The cryptocurrency market is surging in August, with Bitcoin (BTC) and Pi Network’s PI token attracting strong investor interest.
Bitcoin has climbed nearly 10% in the first ten days of August, extending July’s rally when it came close to its $123,000 all-time high — roughly Rs34.5 million. The surge is driven by pro-crypto political developments, increased institutional buying, and favorable macroeconomic factors.
US President Donald Trump has adopted a highly supportive stance toward digital assets, signing executive orders allowing cryptocurrencies in retirement portfolios and preventing banks from cutting ties with crypto firms. He also appointed Bitcoin advocate Stephen Miran as an interim Federal Reserve governor.
Adding to the momentum, Bitcoin treasury firm Nakamoto, led by David Bailey, has acquired nearly 3% of the total Bitcoin supply — worth about $76 billion — following a $2.5 billion purchase.
Markets are now watching US inflation data, with August CPI expected at 2.8% year-on-year. A lower reading could strengthen the case for a September interest rate cut, historically a bullish signal for high-risk assets like Bitcoin.
Meanwhile, Pi Network’s PI token made headlines after jumping from $0.32 to $0.46 last week, before easing to around $0.41. Investor sentiment was lifted as over 2.8 million PI tokens were withdrawn from exchanges.
Analysts forecast Bitcoin could hit $130,000–$150,000 by year’s end, with the most optimistic targets reaching $175,000 if the rally holds. For Pi, breaking its current resistance is key; failure to do so may push it back toward $0.35.
