On January 21, news reports indicate that as the overall cryptocurrency market weakens in early 2026, Pi Network prices faced significant pressure in January. Unlike emotional panic selling, the downward movement of Pi Coin is more due to structural supply expansion, making it more vulnerable amid the Bitcoin and mainstream altcoin corrections. The market remains highly cautious about the short-term trend of Pi Network. The biggest variable currently comes from the token unlock schedule. Data shows that over 4.6 million PI enter circulation daily, continuously weakening scarcity. By the end of January, approximately 55.8 million PI will be released as planned. This mechanical supply increase keeps potential buyers on the sidelines, and even short-term rebounds are unlikely to generate effective support. Although Pi Network has recently upgraded its application and payment functions, the improvement in practicality has not yet translated into immediate demand absorption for the token.