Pi Coin Declines 25% in 20 Days as Investor Outflows Increase
BeInCrypto
Pi Coin has dropped 25% in 20 days, hitting a multi-week low due to increased investor withdrawals and correlation with Bitcoin's weakness.Summary
Pi Coin is experiencing sustained selling pressure, declining 25% over the last 20 days to a multi-week low of $0.201, largely mirroring broader market weakness led by Bitcoin. On-chain data, specifically the Chaikin Money Flow (CMF), indicates heavy capital outflows, signaling waning investor confidence and reduced exposure. Pi Coin's macro momentum is closely tied to Bitcoin, with a correlation of 0.42, meaning Bitcoin's correction has amplified PI's losses. The price is currently testing a critical eight-week support level around $0.198. A breakdown below this level could lead to further drops toward $0.188 or $0.180, while a successful bounce might allow PI to retest resistance levels starting at $0.208.
(Source：BeInCrypto)