I announce that Pi has now officially entered a bear market. Pi will slowly cut away losses with a dull knife, starting a long road of grinding decline lasting up to ten years, and ten million pioneers will meet their end without a single bone left behind.

CoinWorld News reports that the Pi Coin price has rebounded after Pi Network rolled out three ecosystem upgrades. The coin is currently trading at approximately $0.115, up about 0.5% from 24 hours ago. During the Pi2Day event, the Pi core team introduced Solohost, Pi Sign-in, and Piverify, helping market sentiment recover. At the same time, derivatives activity improved, with open interest rising to over $20 million. Although Pi’s latest rise came after it hit a new low of $0.1141 on July 1, the 4-hour chart shows sellers still dominate, forming a potential bear flag. Ongoing supply pressure continues to affect the network’s new utility releases, and more than 1.7 billion Pi tokens are expected to enter circulation over the next 12 months.