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Pi Network slides below $0.17 as exchange inflows signal selling pressure

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Pi Network slides below $0.17 as exchange inflows signal selling pressure

Key takeaways

  • PI is down 2.3% and is now trading below $0.1700.
  • Investor confidence is declining as CEXs record roughly 2 million PI tokens in inflows over the past 24 hours, suggesting a near-term sell-off.

Pi Network (PI) is trading below the $0.1700 mark on Monday, extending its gradual decline as the token remains stuck in a consolidation phase. 

Recent data shows that centralized exchanges (CEXs) received close to 2 million PI tokens over the past 24 hours, pointing to rising sell-side activity amid a broader risk-off tone across the cryptocurrency market. 

Selling pressure persists amid geopolitical tensions

Pi Network continues to face downward pressure, mirroring wider market caution triggered by failed peace negotiations between the United States and Iran in Pakistan. The breakdown in talks has escalated tensions, with the US initiating a blockade of maritime traffic through the Strait of Hormuz—further dampening investor risk appetite.

Data obtained from PiScan shows that 1.92 million PI tokens were transferred to CEXs within 24 hours, suggesting that KYC-verified mainnet users may be reducing their holdings and adding to the ongoing sell-off.

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Currently, investors within the ecosystem are shifting their attention to the upcoming Consensus 2026 event, hosted by CoinDesk from May 5–7. Pi Network co-founder Chengdiao Fan is scheduled to speak on May 6 on the topic of integrating Web3, AI, and blockchain for real-world utility. 

The event, with Fan speaking, could trigger a “buy the hype, sell the news” dynamic—potentially fueling a short-term rally ahead of the event, followed by renewed selling pressure.

PI could experience further selling pressure

The PI/USD 4-hour chart is bearish and efficient as the token is trading below both the 50-day and 100-day Exponential Moving Averages (EMAs), currently positioned around $0.1800 and $0.1898, respectively.

Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) sits near 44, below the neutral midpoint, indicating sustained bearish momentum. 

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Meanwhile, the Moving Average Convergence Divergence (MACD) shows slightly negative histogram bars, suggesting that downside pressure remains in play.

On the downside, immediate support lies at $0.1556, the February 23 low. A break below this level could open the door to further declines within the current bearish structure.

PI/USD 4H Chart

However, if the bulls regain control, a move above the 50-day EMA at $0.1800 would be the first sign of recovery. A daily candle close above this level would allow PI to reclaim the 100-day EMA near $0.1898.

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Crypto World

Bitcoin’s 50% Drawdown ‘Priced In’ Quantum Computing Threat: Bernstein

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Bitcoin's 50% Drawdown ‘Priced In’ Quantum Computing Threat: Bernstein

Bernstein said Monday that Bitcoin’s selloff has already priced in much of the market’s fear around quantum computing, arguing that the threat is real but still manageable rather than an immediate existential risk.

Bitcoin’s (BTC) near 50% drawdown from its $126,198 all-time high in October 2025 is proof that the market has “priced in” several risks tied to a quantum breakthrough, partly thanks to technological progress on zero-knowledge privacy and quantum-proof cryptography that “counterbalance” the AI and quantum acceleration, Bernstein said in a Monday note shared with Cointelegraph.

The note lands two weeks after Google researchers said future quantum computers could break the elliptic-curve cryptography used across many blockchains with fewer than 500,000 physical qubits in some architectures, reviving debate over how quickly Bitcoin needs a post-quantum upgrade path. This research suggested a quantum computer could crack a Bitcoin private key in nine minutes, in a theoretical scenario, which is less than Bitcoin’s 10-minute block production time.

However, Bernstein said Bitcoin core developers have “adequate time” to determine a post-quantum path. Last week, Bernstein predicted that Bitcoin has about three to five years to prepare for a post-quantum security upgrade, Cointelegraph reported on Wednesday.

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Graph showing the risk that an on-spend quantum attack that takes 9 minutes to derive a private key succeeds against Bitcoin. Source: Google Quantum AI

Institutions will play constructive role in quantum-proofing Bitcoin

Bernstein said large institutional holders, including exchange-traded fund (ETF) issuers and corporate treasury buyers such as Strategy, are likely to play a constructive role in any eventual consensus on a post-quantum upgrade.

“We expect institutional partners with now billions at stake to play a constructive role in building consensus on the post-quantum path.”

The note also highlighted the recently introduced BIP-360 proposal and added that slower consensus from Bitcoin developers is seen as responsible behavior when it comes to a $1.5 trillion asset.

BIP-360 is a draft Bitcoin Improvement Proposal that proposes a Pay-to-Merkle-Root output type designed to reduce long-exposure quantum risk by removing Taproot’s key-path vulnerability, though it does not itself add post-quantum digital signatures.

Bernstein said BIP-360 could be implemented as a soft fork for exposed Bitcoin addresses, but added that this would still leave around 8% of the BTC supply in inactive addresses vulnerable to future quantum breakthroughs.

Related: Bitcoiners push for quantum-resistant BIP-360 upgrade as debate heats up

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Quantum-proofing Bitcoin is a social issue, not technical

The real challenge of quantum-proofing Bitcoin lies in the societal adoption element of the new standards, not the technical development, according to Arthur Breitman, co-founder of Tezos blockchain.

“The coding work could be done this afternoon,” but Bitcoin holders would still need to migrate to this new standard, Breitman told Cointelegraph during an interview at EthCC 2026.

“If Bitcoin needed to migrate in the next month, they could do it from a technical perspective […] but they can’t get everyone to migrate their key in a month, Breitman said. “It’s going to take years for people to properly migrate their keys,” he added.

Arthur Breitman, co-founder of Tezos, interview at EthCC 2026. Source: Cointelegraph

Asset manager Grayscale’s head of research, Zach Pandl, shared a similar view in a research report last Monday. He said Bitcoin’s quantum-proofing challenges are “more social than technical,” provided that its UTXO model does not have native smart contracts and that some address types are not quantum vulnerable.

However, he warned that the community needs to find consensus on how to quantum-proof wallets where the private key has been lost or is otherwise inaccessible.

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Magazine: AI has dramatically accelerated the quantum threat to Bitcoin: AI Eye