Pi Network (PI) price is trading in the red on Tuesday, extending losses after a 7% decline the previous day. The PI token faces intense downside pressure as broader crypto market sentiment deteriorates, risking a steeper decline below the record low of $0.0700. 

Pi Network risks further downside as the crypto market sentiment declines

The broader crypto market faces renewed selling pressure this week. CoinGlass data shows $604 million in total liquidation, led by $531 million of long liquidation, reflecting a sell-side bias. 

At the same time, CoinMarketCap’s Fear and Greed Index is at 34, down from 39 on Sunday as the market sentiment shifts risk-off from neutral. Given the strong correlation…