Barca went into the match at the Camp Nou knowing a victory would have taken them above their opponents and to the top of La Liga, but despite doing most of the pressing during the second half, they were unable to find a winning goal.
Ronald Koeman's side now realistically need to win their final three league matches of the season if they are to claim what would be a fifth title in just seven years, while they will also need both Atleti and Real Madrid to slip up.
Defender Pique has been involved in all those recent title successes and he believes Barca are still alive in the title battle, particularly as there are no guarantees Atleti and Real will win all their remaining matches.
"We hoped to win this one but we're still alive," Piques was quoted as saying by Sport. "We had more chances, we competed. We're still in contention seeing how this season's gone, I think we still have a chance.
"Anything can happen, as we have seen in La Liga. Madrid will win the league if they win four games, but the big teams are struggling to find consistency.
"I think if we win three games, we're going to have a chance. That's the idea now, to win out from here and compete until the end. It's a shame because in recent months we've done well."
The Blaugrana currently sit second in the standings, two points behind leaders Atleti, although Real Madrid can move to the top of the standings if they beat fourth-placed Sevilla on Sunday night.
Barcelona will be back in La Liga action on Tuesday when they visit Levante and they are priced at 1/4 to win that match, while the hosts, who triumphed the last time the two sides met at the Estadi Ciutat de Valencia in November 2019, are available at 8/1 and the draw is on offer at 11/2.