Pi Network has recently experienced a notable setback as one of the top tokens, showing a decrease in value. The current trading price of Pi is $0.6077, marking a 15% decline over the last month. This decline has raised concerns among investors about the future of Pi Network, as it struggles to demonstrate signs of improvement.

While there have been some inflows into Pi Network according to the Chaikin Money Flow (CMF) indicator, these inflows remain below the zero line, indicating a negative trend. This suggests that despite occasional inflows, the altcoin continues to face dominant outflows, keeping its performance subdued.

The lack of support from investors can be attributed to fundamental issues with Pi Network, as highlighted by Alvin Kan. The initial surge in Pi Network's value was driven by anticipation and community mining but has since waned. The token faces challenges transitioning from early excitement to long-term value delivery due to factors like limited exchange listings and a developing ecosystem.

Additionally, Pi Network's correlation with Bitcoin, currently at -0.11, shows an inverse relationship. When Bitcoin rallies, Pi tends to experience declines. This correlation may lead to further corrections for Pi Network, especially if Bitcoin continues to rise towards $100,000.

Considering the downward trend in Pi Network's price and its negative correlation with Bitcoin, investors need to remain cautious. If the selling pressure persists and Bitcoin's price continues to climb, Pi Network could see further declines, potentially breaching support levels and moving towards its all-time low of $0.4000. To reverse this trend, Pi Network would need to surpass key resistance levels and demonstrate growth potential.