Pi Network (PI) is trading in the red on Thursday, retreating toward a near-term support around $0.0740. The Fear and Greed Index declines to 43 on Thursday, while total liquidations exceed $350 million over the last 24 hours, suggesting a deterioration in investors’ risk appetite and a sell-side bias. The technical outlook for PI is bearish, with selling pressure building.

Broader market under stress

The broader cryptocurrency market saw increased selling pressure on Thursday, following the US Federal Reserve’s (Fed) decision to keep interest rates unchanged at 3.75%-4.00% the previous day. CoinGlass data shows $355 million in total liquidations over the last 24 hours, with $207 million in long liquidations, reaffirming a sell-side…