Pepe [PEPE] has resumed its downtrend after a brief bullish break, correlating closely with Bitcoin's [BTC] recent fall below $56k support. Network activity for PEPE has also declined significantly, with daily active addresses and new addresses down by 12.47% and 30.88% respectively. This trend is part of a longer-term decline in network health since May. Despite this, there is a potential buying opportunity if PEPE revisits its liquidity pool in the $0.00000588-$0.00000619 zone, which could lead to a trend reversal. However, the overall bearish sentiment driven by Bitcoin's performance may continue to influence PEPE's market dynamics.