Bittensor Price Drops 7% Amidst Fifth Consecutive Losses

Bittensor (TAO) experienced a significant price drop of nearly 7% in the past 24 hours, marking its fifth consecutive day of losses. This decline follows a recent rally that saw TAO reach a 3-month high of $277 after going live on Raydium.

The Open Interest has declined 14.3% in 24 hours, and the spot CVD has been falling since Monday. The indicators show a lack of spot and derivatives demand, which could indicate a momentum shift for TAO.

The weekly chart for Bittensor shows a bearish swing structure, with a swing low at $167.8 in April 2025 being breached by a weekly candle close at $163.2 in February 2026. The RSI on the weekly timeframe was at 49 to show neutral momentum, but the OBV has been in a steady downtrend since October to reflect bear market conditions.

Traders are waiting for a price dip to $190 to buy TAO in anticipation of another bullish reaction. However, the bulls remain incapable of seizing the $300 level as support to drive a true recovery.