Cryptocurrencies Price Prediction: Pi Network, Bitcoin & Dogecoin – European Wrap 13 April

Pi Network Price Forecast: PI extends gradual downtrend amid risk-off markets, lack of catalysts

Pi Network (PI) trades below $0.1700 at press time on Monday, gradually losing ground amid a consolidation phase. Centralized Exchanges (CEXs) recorded roughly 2 million PI tokens in deposits over the last 24 hours, suggesting a sell-off amid a broader risk-off sentiment in the cryptocurrency market. The lack of catalysts for the PI token risks an extended decline toward the immediate support at $0.1556.

Pi Network remains under selling pressure amid the broader market risk-off sentiment linked to the US and Iran not reaching a deal to end the war in their direct peace talks in Pakistan. The failed negotiations between the two countries have led to a US-led blockade of all maritime traffic passing through the Strait of Hormuz.

Bitcoin Price Forecast: BTC struggles amid failed US-Iran peace talks, hawkish Fed

Bitcoin (BTC) is trading under pressure at the start of the week, near the key support zone at $70,700 on Monday. A breakout below this level would signal a correction ahead. Risk sentiment has been dampened in crypto markets, with the US-Iran ceasefire failing to reach an agreement and US inflation accelerating sharply, which raises concerns of further downside for the Crypto King. 

The US and Iran concluded their round of talks in Pakistan without reaching an agreement to end the war. US Vice President JD Vance said he made a final, best offer, but Iran declined to accept it, leading to a stalemate. Iranian state media said that excessive demands sank the possibility of a deal.

Dogecoin Price Forecast: Bearish setup persists as institutional interest revives

Dogecoin (DOGE) is holding steady around $0.09000 at press time on Monday, after losing over 2% on the previous day. Institutional demand for the meme coin surged on Friday, with its largest inflow ever, while the leverage market shows mixed sentiment. Technically, Dogecoin leans bearish as it tapers within a descending triangle pattern.

Sentiment toward Dogecoin is mixed amid the ongoing US-Iran conflict over control of the Strait of Hormuz. The DOGE-focused Exchange Traded Funds (ETFs) recorded $1.34 million in inflows on Friday, marking their largest inflow ever after 18 consecutive days of zero net flows. This sudden revival of institutional interest marks its fifth daily inflow since inception and solidifies near-term confidence.