In recent weeks, Pi Coin has been under strong selling pressure, with its price dropping to the lowest point in several weeks. The overall weakness of the cryptocurrency market, especially the negative trend of Bitcoin, has directly impacted this altcoin, making its downward trend more apparent. Investors are continuously withdrawing funds and lack the momentum to support a rebound, increasing downward pressure and dimming Pi Coin's recovery efforts. The price movement of Pi Coin is synchronized with Bitcoin, and on-chain indicators show a clear deterioration in Pi Coin holders' sentiment. The Chaikin Money Flow (CMF) index indicates a large outflow of funds, dropping to an eight-month low. This reflects that capital is flowing out of Pi Coin, with investors actively reducing their holdings as the price continues to weaken. The ongoing selling pressure is driven by a gradually diminishing confidence in Pi Coin's recovery ability, especially after multiple failed rebound attempts. Many investors are choosing to exit rather than wait for a new bull cycle.