The price of Bitcoin surpasses $260, and technical indicators suggest further gains

Bitcoin's price shows renewed strength as it rises above the $260 level, with momentum indicators improving, indicating the possibility of continuing the recent corrective trend.
Bitcoin ( $TAO ) was trading around $263.19 at the time of publication on May 1, up approximately 5.7% over the past 24 hours. The token has been consolidating between roughly $235 and $275 over the past week, following a sharp rebound in early April.
Despite the recent rebound, TAI (TAO) remains well below its late 2025 highs that exceeded $500, but its price structure has begun to improve, with higher lows forming since mid-February.
Trading activity increased with the rebound, suggesting renewed interest from market participants as volatility returns.
A wave of positive developments has helped boost sentiment around the Bitcoin ecosystem.
Reports indicate that NVIDIA has pledged about $420 million of TAI, reflecting growing confidence in decentralized AI infrastructure among major industry players.
Institutional interest is also increasing. Both Grayscale and Bitwise have submitted applications for spot TAI ETFs, with decisions expected as soon as August. The anticipation around these applications has begun attracting early capital inflows into the asset.
Real-world adoption is also expanding. Vidaio's subsidiary recently announced a joint venture with Pip Studios, a production company working with platforms like Netflix and Disney, highlighting increasing institutional use cases for the Bitcoin network.
On-chain data suggests that supply pressure is easing, which could support upward movement.
Over 70% of the total TAI supply is currently locked in staking, significantly reducing the liquid supply available on exchanges. This creates a tighter market structure where gradual demand can have a stronger impact on the price.
The supply shock was reinforced by the December 2025 halving, which cut daily issuance by 50%. The reduced issuance process continues to serve as a structural driver for price increases.
Derivatives positions also support bullish expectations. The TAI buy/sell ratio has risen to around 1.4, indicating that the majority of traders are leaning toward further upside.
Bitcoin Price Analysis
On the daily chart, TAI broke above the $260 level and is now attempting to hold above the Fibonacci retracement 0.236 near $236.59, which has turned into support.
Momentum indicators are improving. The MACD has turned positive, with green bars on the histogram, signaling strengthening bullish momentum. Meanwhile, the money flow on Shakenin remains slightly negative at around -0.11 but is trending upward, indicating a slowdown in outflows.
The price is also trading above a downtrend line that has been capping gains since late 2025, suggesting a potential change in market structure.
If momentum continues, TAI could target the next resistance levels at $294 (Fibonacci 0.382) and $340 (Fibonacci 0.5), which previously acted as supply zones during the recent downtrend.
On the downside, immediate support is near $236, followed by a stronger base around $200. Breaking these levels could delay bullish prospects.