Bittensor TAO Price Drops 7%, Signals Weak Demand Amid Bearish Trend

Bittensor (TAO) continued its losing streak into another day, experiencing a 7% price drop in the past 24 hours. This decline is part of a larger trend that began early September.

The Open Interest fell by over 14%, indicating weak demand in both spot and derivatives markets. This bearish momentum has also seen TAO fail to surpass its critical $300 resistance, maintaining a bearish weekly structure.

Traders are looking for a dip to around $190 as a potential buying opportunity if the bearish momentum persists, especially if Bitcoin weakens further.