# Pi Network Price Drops as Bearish Channel Extends Downtrend and Market Sentiment Cools

> Pi Network extended its losses in a bearish channel pattern on Monday as broader crypto market sentiment remained subdued.

**Type:** article · **Category:** Crypto · **Published:** 2026-08-03 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/crypto/pai-netavarka-ki-kimaton-men-mndi-ka-daura-jari-biyarisha-chainala-men-phisala-raha-tokana-13260 · **Language:** English
**Tags:** Pi Network, Crypto News, Bitcoin, Market Analysis, Blockchain, finance

Pi Network registered a decline of over 2% on Monday, extending its downward trajectory within an established bearish channel pattern. This ongoing slide highlights persistent selling pressure and reinforces a cautious technical outlook for the token, raising concerns about a potential test of new record lows below the crucial psychological thresholds.

## Subdued Market Sentiment and Technical Outlook
The broader cryptocurrency market environment remains weighed down by caution. On Monday, the Fear and Greed Index was recorded at 34, signaling a marked reduction in risk appetite among market participants. From a technical standpoint, the outlook for PI remains distinctly bearish, with continuous risks pointing toward a drop below the $0.0700 mark. Amid these downward pressures, momentum indicators offer a mixed reading, as the Moving Average Convergence Divergence maintains an upward posture above its signal line while the Relative Strength Index hovers near 40, pointing to fading oversold conditions.

## Derivatives Activity and Open Interest contraction
Activity within the derivatives sector reflects a similar cooling of participation. Data from CoinAnk indicates that PI futures Open Interest contracted to $8.41 million, down from $8.94 million recorded on Saturday. This reduction in active contract value points toward a liquidation of positions or a lower notional commitment, typically coinciding with price depreciation. Although the token managed to hold above $0.0800 during Monday sessions, the near-term directional bias continues to favor sellers as prices remain trapped between parallel declining trendlines.

## Performance Across Major Cryptocurrencies
Other leading digital assets also experienced notable price adjustments. Bitcoin, Ethereum, and Ripple stabilized on Monday following losses of 2.8%, 3.55%, and 2.35% respectively during the previous week. Bitcoin continues to trade beneath key resistance boundaries, while Ethereum consolidates in the range defined by its 50-day and 100-day Exponential Moving Averages. In contrast, Cardano managed a strong recovery, trading around $0.187 on Monday after rallying over 14% last week and breaking out above a key ascending trendline supported by strengthening metrics and whale accumulation.

## Broader Market Context and Live Pricing
Bitcoin prices faced renewed downward pressure on Monday, sliding toward the $63,000 threshold as bearish momentum reasserted itself. Live market data places the asset at $63,506, compared to the previous close of $63,482, marking a modest 0.04% gain on the day within a 52-week trading band of $57,748 to $97,861. Market participants continue to digest external developments, including the reported theft of approximately 1,300 BTC in a Coldcard wallet incident and political decisions regarding geopolitical tensions. Observers emphasize the importance of thorough personal research when navigating volatile digital asset markets.

## What this means for you
**For Crypto Investors:** Heightened bearish momentum and reduced risk appetite across digital asset markets mean traders should exercise caution and conduct thorough research before making portfolio decisions.

## Questions & Answers

### 1. How much did Pi Network decline on Monday?
Pi Network declined by over 2% on Monday, extending its downward trend in a bearish channel pattern.

### 2. What was the Crypto Fear and Greed Index on Monday?
The Fear and Greed Index stood at 34 on Monday, signaling reduced risk appetite in the market.

### 3. What is the current futures Open Interest for Pi Network?
According to CoinAnk data, the PI futures Open Interest declined to $8.41 million.

### 4. What is the live price and previous close for Bitcoin?
Bitcoin trades at a live price of $63,506 compared to its previous close of $63,482.

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