Why is the price of Pi Network rising today?

The cryptocurrency of the Pi Network has seen a notable increase in the past few hours, with its price jumping to around $0.65 before slightly retreating to about $0.60 — reflecting a 6% increase over the day.
The most likely reason for this increase is the broader recovery in the global cryptocurrency market, following new developments in the ongoing global trade war.
U.S. President Donald Trump announced a 90-day suspension of most of the newly proposed tariffs. Additionally, reciprocal tariffs have been reduced to 10% for more than 75 countries currently seeking to renegotiate more favorable trade terms with the United States. However, tariffs on Chinese imports have risen to 125%, due to what has been described as a "lack of good faith" from the Chinese side.
At the same time, the price of Bitcoin (BTC) jumped to $83,000 before settling around $82,000, while the price of Ethereum (ETH) surpassed the $1,600 mark — indicating a wave of positive momentum in the cryptocurrency market.
Graph of Pi price
Apart from macroeconomic influences, some recent strategic steps have contributed to enhancing confidence in the Pi Network system. The project recently announced a partnership with Banxa, a global payment services company. It is noteworthy that Banxa purchased over 30 million PI tokens — indicating strong confidence in the future potential of the Pi Network.
According to Pi News — a media platform dedicated to the project — approximately 1.2 million PI coins were purchased by Banxa within just 48 hours, as announced on April 8.
The platform stated: "This demonstrates the increasing trust from the community in Banxa. The more uses there are, the greater the demand."
This recent rise has sparked enthusiasm among the Pi community, with some members expressing optimism about further increases in the near future. A user on the X platform named MOON JEFF predicted a clear V-shaped recovery pattern that could push the price beyond $2.50.