- Bittensor Price Expectations: TAO closes at a key support level, signaling larger losses:

The price of Bittensor (TAO) dropped below $250 at the time of writing this report on Thursday, marking the fourth consecutive day of losses. This AI-backed digital token is experiencing a decline in demand from retail investors, with open positions for TAO futures contracts decreasing by more than 8% over the past 24 hours. Technical analysis indicates that the 20-day simple moving average (SMA) at $231 represents an immediate support level that prevents a drop toward $200.

Decline in Retail Demand for TAO
Bittensor, one of the leading AI tokens in the cryptocurrency market, is losing retail investor interest as overall market sentiment declines. CoinGlass data shows that the open trading volume for TAO futures contracts reached $260.24 million, down more than 8% over the past 24 hours, indicating a sharp decrease in the nominal value of active contracts.

As risk aversion increases, total liquidations during the same period amounted to $1.66 million, driven by the liquidation of buy positions worth $1.42 million. The decline in trading volume by 14% to $624.85 million, and the decrease in funding rate to 0.0018%, confirm a slowdown in trading activity and a reduced appetite for long buy positions.
$TAO