Pi Network price breaks $0.10 to new low amid unlock and bearish flows

Pi Network price has pushed below the $0.10 psychological level for the first time, printing a fresh all-time low around $0.098. The decline extends a month-long slide of over 25%, with token supply pressure linked to mainnet migrations and ongoing token unlocks. Derivatives and flow data remain bearish. Open interest fell from above $10.88M to about $9.75M, consistent with leveraged long positions being unwound. Funding rates eased to around -2.15%, indicating traders increasingly pay to hold short exposure, while spot demand stays weak. Technically, Pi Network price trades in a descending channel since early May, with lower highs and lower lows. Momentum signals also lean negative: Chaikin Money Flow is around -0.12 and MACD stays below zero. The near-term bullish trigger is reclaiming and holding above $0.10; failure raises the risk of another leg down toward channel support near $0.08. Earlier in the story, fundamentals were mixed: the article cites Kraken access, upgrade progress toward smart-contract readiness, and Pi2Day 2026 initiatives (including Pi Sign-In and PiVerify/KYC expansion). However, the market reaction has been muted, and broader “risk-off” conditions plus Pi’s lower liquidity profile are cited as amplifiers of drawdowns. With broader crypto weakness led by BTC, traders appear to be rotating away from underperforming assets—keeping Pi Network price under pressure in the weeks ahead.