The capital outfit are joint-second in the Spanish top flight with the Catalan giants after winning eight of their first nine fixtures to position them level on points at the summit.
Now, the Spain international has acknowledged their rivals' strong form and expects them to maintain their title challenge for the remainder of the campaign.
"Atletico can win the league," Pique told Intena 3. "Falcao's team are very much in the reckoning."
Pique then reiterated his support for Lionel Messi, who is set to lock horns with Cristiano Ronaldo in the battle to be crowned the recipient of the 2012 Ballon d'Or.
"You get more recognition for the Ballon d'Or as an attacker rather than a defender," he added. "Leo and Cristiano are in contention, but I think Messi will win."