- Pi Coin trades near support at $0.4913 as BTC surges past $109K with 2.0% daily gains.
- CMF reading at 0.01 indicates rising outflow pressure on Pi Coin.
- Correlation with Bitcoin drops to 0.07, showing significant decoupling in recent sessions.
Once trading as high as $2.79, Pi Coin has dropped to around $0.49. This steep decline has left many holders and miners frustrated, questioning how much lower the price could go. Pi Coin (PI) is currently trading at $0.4992, moving narrowly within its 24-hour range of $0.4913 to $0.5079. While Bitcoin (BTC) posted a 2.0% daily gain, surging to $109,613, Pi Coin failed to mirror this upward momentum.
Its relative underperformance continues to widen the gap between the two assets. Additionally, the Chaikin Money Flow (CMF) indicator suggests rising outflows, with the metric currently sitting at 0.01, barely above the neutral line.
PI-BTC Correlation Falls to 0.07 Amid Growing Divergence
The correlation coefficient between BTC and PI is now 0.07. This shows a significant decoupling between the two price actions. Bitcoin continued to gain momentum, supported by key levels at $107,269 and a local resistance near $110,117.
In contrast, Pi Coin is trending near its support at $0.4913, having failed to gain upside traction. Notably, the divergence has become more evident since late June as BTC outpaced PI in strength and volume.
PI CMF Slides Toward Negative After 10 Sessions of Outflows
According to the CMF reading, Pi Coin has experienced persistent capital outflows over the past ten sessions. The CMF peaked near 0.24 in late June but has since trended downward. Currently at 0.01, it is on the verge of flipping negative.
This shift underlines fading accumulation activity, further confirmed by the steady drop from the recent high. Unless inflows resume, upward price movement remains limited. Meanwhile, Bitcoin’s rise suggests liquidity may be rotating toward larger caps.
PI Tests $0.5079 Resistance as Support Faces Pressure
Currently, Pi Coin faces a narrow resistance zone at $0.5079. A sustained move above this level remains unconfirmed. On the downside, the key support rests at $0.4913. Breaching this support could push the price closer to $0.400.
In contrast, Bitcoin remains positioned above its support zone and is pushing toward $110,117. Market participants are closely watching the growing divergence between the two coins as correlation metrics continue to decline.
