Bitget Market Analysis: Pi Coin Faces Critical Juncture Amid Unlock Pressure and Selling Surge

Pi Coin is currently navigating turbulent waters as it approaches its all-time low of $0.335, with recent market data revealing significant downward pressure. The cryptocurrency has experienced a 5.44% daily decline and a substantial 10.68% weekly drop, bringing its current price to $0.3635. Market capitalization has correspondingly dwindled to $2.85 billion, while trading volume has surged dramatically by 121% to reach $59.6 million, indicating aggressive selling activity across platforms including Bitget. This heightened volume suggests that investors are actively liquidating positions, potentially in anticipation of upcoming unlock events involving 167 million tokens. The failure to sustain recovery attempts following its recent brush with historic lows points to underlying market weakness and negative sentiment. For traders on Bitget, this situation presents both challenges and opportunities, as the token's volatility increases amid these fundamental pressures. The combination of technical breakdowns and fundamental supply concerns creates a complex trading environment that requires careful risk management and strategic positioning. Market participants should closely monitor support levels around the $0.335 mark, as a breach could trigger further downward momentum, while any successful defense of this level might offer short-term trading opportunities for those willing to navigate the current market uncertainty.

Pi Coin Price Nears $0.335 Again Amid Unlock Pressure – What’s Next?

Pi Coin faces renewed downward pressure, sliding to $0.3635 with a 5.44% daily drop and a 10.68% weekly decline. Market capitalization dwindles to $2.85 billion as trading volume spikes 121% to $59.6 million, signaling aggressive selling activity. The token briefly flirted with its all-time low of $0.335 just days ago, failing to sustain recovery attempts.

Unlock events loom large over Pi’s trajectory, with 167 million tokens set for release within 30 days—including a $6.1 million tranche this month. Exchange-held supplies exacerbate risks; Bitget alone custodies 141M PI, amplifying concentration risks. Community discontent simmers over referral rewards and KYC delays, further dampening sentiment.

Technical indicators reflect the bearish tilt. Pi struggles below its 7-day ($0.389) and 30-day SMAs ($0.406), while RSI neutrality at 43.55 masks underlying weakness. The MACD histogram’s negative turn on August 17 confirms fading momentum.

Bitget Launches RWA Index Perpetuals Linking Tesla, Nvidia, and Circle to Crypto Markets

Bitget has introduced a groundbreaking RWA Index Perpetual Contract, effectively bridging the gap between tokenized stocks and cryptocurrency trading. The new offering provides continuous exposure to real-world asset pricing, with initial contracts tied to Tesla, Nvidia, and Circle.

The Tesla RWA contract utilizes aggregated pricing data from multiple tokenized stock sources, including xStocks, ensuring a balanced representation of market value rather than relying on a single price feed. Traders can access these contracts with leverage of up to 10x, marking a significant convergence of traditional finance and crypto derivatives.

This innovation positions Bitget at the forefront of institutional-grade crypto products, offering traders seamless access to Wall Street assets through cryptocurrency markets. The MOVE reflects growing demand for hybrid financial instruments that combine the liquidity of crypto with the stability of established equities.