Pi Coin before the "G hour": Investors are fleeing in droves, the price is about to break the bottom.

Pi Coin continues to plummet, approaching its all-time low (ATL). The ongoing decline not only reflects the increasing selling pressure but is also exacerbated by widespread pessimism in the community. As confidence weakens, the wave of withdrawal by investors from the network further darkens the situation.

Pi Coin: Investors retreat, price approaches dangerous threshold

The correlation coefficient between Pi Coin and Bitcoin is plummeting, currently only at 0.52 – a concerning low compared to the explosive price increase of Bitcoin, which just reached an all-time high (ATH) within the last 24 hours.

The weakening of this price correlation suggests that Pi Coin is struggling to find its own direction. As Bitcoin breaks out, Pi Coin's failure to "ride the trend" has raised concerns that investor confidence is waning. In the context of Bitcoin entering a strong uptrend, Pi Coin's separation from the common trajectory further obscures the short-term recovery prospects.

The correlation between Pi coin and Bitcoin | Source: TradingViewA negative sentiment is prevailing in the Pi Coin community, clearly reflected in the continuous trend of capital withdrawal in recent days. As the price approaches ATL, many investors are losing patience, withdrawing from the network and creating more selling pressure. This wave not only pulls the price down further but also makes the recovery process more difficult than ever.

Pi Coin holders | Source: Holderscan### Pi Coin price before the critical threshold

Currently, Pi Coin is trading around the 0.4 USD mark, trying to maintain this area as a key support. Although the price has slightly increased compared to ATL, the long-term downtrend has not yet been broken. If market sentiment does not improve, this coin is at risk of continuing to weaken.

The negative scenario suggests that the price may retreat to the next support zone at 0.36 USD. If this level fails, Pi Coin will face the possibility of returning to ATL 0.32 USD – wiping out all recent gains and opening up the risk for a deeper decline.

PI Price Chart | Source: TradingViewOn the contrary, in the case of Pi Coin successfully bouncing back from 0.4 USD, the price could recover to 0.44 USD. This is an important threshold to break the falling channel, but this scenario will require strong buying power and the return of investor confidence.

In the context of the overall market thriving thanks to the rise of Bitcoin, Pi Coin's detachment from this trend is a clear warning sign. If it does not regain investor confidence soon and create upward momentum, Pi Coin may continue to be caught in a deeper downward spiral. Conversely, any signs of recovery at the support level of 0.40 USD will be the key point to determine whether this altcoin still has a chance to "turn around" in the short term.

Lilly