Pi the past few weeks, pushing its price to multi-week lows. Altcoins have declined sharply alongside a weak overall market, with Bitcoin acting as a key drag.
Declining investor support and increasing withdrawals have intensified downward pressure, limiting any meaningful recovery attempts.
Pi Coin Follows Bitcoin
On-chain indicators show deteriorating sentiment among Pi holders. The Chaikin Money Flow (CMF) points to heavy outflows, reaching its lowest level in eight months. This signals strong capital leaving the market, as investors reduce risk exposure amid continued price weakness.
The ongoing selling reflects waning confidence after repeated failed recovery attempts. Many traders appear unwilling to wait for a rebound, preferring to exit their positions.
Pi Coin’s overall momentum remains closely tied to Bitcoin performance. The current correlation between PI and BTC is 0.42, which turned positive after steadily improving over the past three weeks, mirroring Pi’s recent downtrend.
This alignment has worked against Pi. As Bitcoin corrected, Pi Coin followed with lower lows, amplifying losses. A rising correlation during a downtrend often signals increased vulnerability, making independent recovery unlikely without broader market stability or asset-specific catalysts.
Current Price Action
At the time of writing, Pi Coin trades at $0.201, down 25% over the past 20 days. This drop followed a failed attempt to break resistance at $0.272, marking a clear shift toward sustained bearish momentum.
Pi Coin is now testing support at $0.198, an eight-week low that remains critical. Negative signals persist, and a breakdown could push PI toward $0.188–$0.180, extending the bearish trend.
Recovery Scenario
A rebound remains possible if historical patterns repeat. A successful bounce from $0.198 could restore short-term confidence. If Pi Coin reclaims $0.208 as support, bearish pressure may ease, potentially allowing a move toward $0.217 for a temporary relief rally.
