Key Takeaways
Why does TAO’s $290 level matter?
It acted as a multi-month demand zone, and losing it shifted Bittensor’s short-term market structure bearish.
What signals show sellers still leading?
Spot Taker CVD leaned sell-heavy, and rising volume came from aggressive market-order selling instead of accumulation.
Bittensor trading activity jumped sharply over the past few days.
Token Terminal data showed Bittensor [TAO] hit $1.5 billion in 24-hour volume, marking one of its strongest spikes since early October. Even so, the surge came with a clear shift in dominance.
The recent metrics showed sellers controlled both Spot and Futures markets.
Source: Token Terminal
Sellers hold the advantage as TAO breaks key support
TAO’s structure weakened after it slipped below the $290 support.
That level acted as a base since July and often triggered reversals. Having said that, the chart showed sellers extended control after TAO’s peak on the 1st of November.
Each bounce faded quickly, and the token printed consecutive red candles across November.
Source: TradingView
That break below $290 removed a major demand zone. This left TAO exposed to deeper downside risk, with no strong support immediately below.
CryptoQuant’s Spot Taker Cumulative Volume Delta showed persistent sell-side dominance. The 90-day profile leaned red across recent sessions, signaling heavier market-order selling.
On top of that, Spot buying volume thinned out. TAO struggled to sustain recoveries for more than a few sessions.
Source: CryptoQuant
Can TAO recover or will sellers push it lower?
TAO’s next move hinged on whether buyers returned with strong volume. A short-term bounce could emerge if demand increased sharply.
By contrast, seller dominance and the confirmed break below $290 kept the bearish structure intact.
