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Recent Pi Network (PI) Updates, Solana (SOL) Warning, and More: Bits Recap July 31

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The team behind Pi Network set a deadline for its next big upgrade, while Solana’s native token risks plunging to as low as $50.

Bitcoin (BTC) may also head south, but interestingly, some analysts believe such a move could actually benefit the bulls.

Pi Network’s Announcement

The Core Team has been on a tear since the start of 2026, unveiling several major ecosystem improvements. The latest was the migration to protocol version 25, which was supposed to be deployed earlier this month.

Pi Network’s team did not disclose the move on X or on its website, yet multiple users claimed that it was in effect. The project has now shifted its attention to the next protocol update (version 26), setting August 11 as the deadline.

“All Mainnet note operators must complete the upgrade before the deadline to remain connected to the network,” the post reads.

The team also shared additional details about its Pi Launchpad model. It explained that in this ecosystem, projects issue tokens as tools to acquire users for their applications and integrate those coins directly into product functionality, such as rewards, payments, access, and governance.

“Instead of being taken by the issuing project, the proceeds of Pi from their token launch go to a liquidity pool with the ecosystem token, which bootstraps a healthy liquidity foundation from the start,” the team added.

PI, which was bleeding heavily prior to the aforementioned announcements, managed to rebound and now trades at around $0.08. Still, it remains down roughly 97% from its all-time high of $3 registered last year.

SOL at Risk

Solana’s native cryptocurrency has slipped by 3% over the past week, currently trading at around $73.50. This means that it has plunged below the $73.75 mark, which the popular analyst Ali Martinez recently described as a “make-or-break” level.

He believes that a sustained close under this key zone might trigger further selling pressure and result in a collapse to $60 and even $50 in the near future.

However, not all are pessimists. X user Crypto Zenkai argued that buying SOL below $80 is like investing in Bitcoin (BTC) in 2010, while Lucky told his nearly 2 million followers that the asset’s plunge under $75 might represent a “juicy dip.”

BTC Needs to Fall?

As of press time, the primary cryptocurrency is worth approximately $63,800, a 2.5% decline on a weekly basis. And while bulls eagerly await a resurgence, Martinez claimed they should actually welcome a potential drop to $60K.

He believes that a plunge to that level would validate the formation of a classic inverse head-and-shoulders pattern that is typically seen as a precursor to a rally. The analyst opined that completing the setup, combined with a confirmed breakout above $66,500, could set the stage for a rally to a two-month high of $74K.

Not long ago, Martinez predicted that BTC’s bear market (assuming the 4-year cycle holds) may conclude between October 6 and October 16. Until then, many industry participants expect the asset’s price to plunge below $50,000 and even $40,000. The most bearish forecast came from X user BATMAN, who claimed that BTC’s recent performance mirrors that of the autumn of 2022, which was followed by a giant collapse to roughly $16,000.

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