Pi Network’s token surged 38% as rumors of an AI partnership with Google spread ahead of the project’s upcoming Pi2Day event announcement on June 28.

Pi Network token spikes 38% on AI plans, Google partnership rumors

Bitcoin is starting to inch closer toward $110,000 again, recently pushing to 
an intraday high of $108,116 and now steadily trading above $107,000. Despite 
the retracement below $99,000 in the past week, Bitcoin&#8217;s current price action 
shows that the broader market is still bullish. Notably, the recent price 
action in the past 24 hours is beginning to quiet questions about whether 
Bitcoin has already reached its top for this cycle. The MVRV Z-Score may be 
offering a clear answer, and it points in a very different direction from what 
some might expect. MVRV Z-Score Says Bitcoin Has Room To Run According to 
crypto analyst Doctor Profit, who initially posted an on-chain analysis of 
Bitcoin on the social media platform X, the MVRV Z-Score indicates that BTC is 
still far from its cycle top. The MVRV Z-Score is an established on-chain 
metric used to determine whether Bitcoin is overvalued or undervalued. Related 
Reading: Bitcoin Top Is In And Price Is Headed For $92,000, Analyst Warns As 
pointed out by the analyst, the current level on the MVRV Z-Score metric is 
only slightly above 2, which has been a relatively neutral zone since 
Bitcoin&#8217;s creation. Bitcoin only reached its major tops in past cycles when 
this metric climbed into the red zone and above a value of around 8 and above. 
The overall Bitcoin price chart shared by Doctor Profit supports this claim. 
Peaks in the orange MVRV Z-Score line are shown with red shaded zones in the 
chart below. These red zones have aligned almost perfectly with Bitcoin&#8217;s 
price tops in 2011, 2013, 2017, and 2021. On the other hand, despite the 
recent surge to new all-time highs in May, the current cycle has yet to push 
BItcoin&#8217;s price into that overheated region. Instead, the chart shows the 
Z-Score still in a much lower band. This boils down to show that the Bitcoin 
price could have a very significant upside left. MVRV vs Price: What The 
Current Setup Means For Bitcoin One detail that stands out in the current 
cycle is the pattern of lower highs forming in the MVRV Z-Score, as seen in 
the chart. Unlike in old cycles, where the metric surged into extreme 
overvaluation zones above 10, the most recent peaks have been noticeably more 
subdued. This trend could be interpreted as a signal that the market is 
beginning to mature or that Bitcoin may even already be approaching the peak 
of its current cycle. Related Reading: Bitcoin Price Could Rally To $110,000 
ATH As These Macroeconomic Factors Align However, although this pattern is 
worth keeping an eye on, it is far from conclusive. The only conclusive fact 
is that Bitcoin&#8217;s price has never reached a definitive cycle top until the 
MVRV Z-Score has pushed into the red zone, which it has yet to do this time 
around. Although there isn&#8217;t a set price peak from the metric, other analysts 
have offered a wide range of predictions for where it might land. Predictions 
of Bitcoin price peaks range anywhere from $150,000 to as high as $500,000. At 
the time of writing, Bitcoin is trading at $107,740, up by 1.4% in the past 24 
hours. Featured image from Getty Images, chart from Tradingview.com

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Pi2Day 2025 brings key user-friendly upgrades, from a new KYC sync button 
solving verification roadblocks to expanded wallet access and enhanced 
security features.

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British national Kai West, known online as “IntelBroker,” has been indicted 
for allegedly selling stolen data on BreachForums, causing over $25 million in 
damages.