The Bittensor TAO price is trading one of its most critical phases, hinting at a big bullish move ahead that could determine the cryptocurrency’s long-term outlook. After weeks of consolidation and volatility, TAO has recently teased a breakout from the descending triangle pattern showing on the weekly Bullish Bittensor price chart.
The current week’s price action is particularly significant. TAO’s recent breakout attempt above the upper border of the pattern signals renewed momentum, but confirmation depends on whether the TAO price can sustain above this key level through the week’s close.
If successful, short-term targets around $470 appear achievable, while the long-term Bittensor TAO price prediction points to $770 or higher by the end of the quarter.
Bloodbath Before Breakout: A Flushout of Weak Hands
Last week’s severe liquidation event set the stage for TAO’s current recovery. The market witnessed an intense shakeout where long positions were wiped out across exchanges, with millions in leveraged trades liquidated in a single day.
Retail traders who placed stop orders above $250 faced steep losses, while disciplined long-term holders survived by maintaining stops below $240.
Interestingly, this capitulation phase may have worked in TAO’s favor. The TAO crypto market absorbed the sell-off quickly, indicating strong institutional demand underneath the surface.
The bounce that followed was nothing short of remarkable, and from a distance, it appears to be a perfect strategy for immediate gains, with TAO recovering from a steep $245 low to as high as $429 within days.
Grayscale Trust Filing Becomes Key Catalyst
The strongest catalyst behind this recovery came from Grayscale’s announcement regarding its new Bittensor Trust ($TAO) filing with the SEC.
As shared by the official Opentensor Foundation on X, this marks the first step in making TAO an SEC-reporting asset. It is viewed as a milestone that could significantly enhance its transparency and institutional credibility.
According to the post, Grayscale plans to list TAO publicly over-the-counter (OTC), reducing its private placement holding period from 12 months to just six.
This move not only enhances liquidity but also brings Bittensor TAO one step closer to becoming an exchange-traded product (ETP), making it tradeable like an ETF for broader market access.
The timing of this announcement was impeccable. It arrived just as TAO’s chart structure hinted at recovery, reinforcing market morale and fueling a 45% intraday surge that propelled prices to $413.95. Now, when writing, it holds a market cap of $4.17 billion and 24-hour trading volume surging past $582 million, that suggest renewed investor confidence in the project.
At last, If the Bittensor price chart continues to hold above the breakout level, the path toward $470 seems increasingly likely. For now, all eyes are on whether the Bittensor TAO price can sustain this strength and turn this technical breakout into a full-fledged rally.
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