Key takeaways
Why is TAO’s $290 level important?
It acted as a demand zone over several months, and its loss made Bittensor’s short-term market structure bearish.
What signals show that sellers are still in the lead?
Spot Taker CVD was heavily biased toward selling, and the increase in volume came from aggressive selling of market orders rather than accumulation.
Bittensor’s trading activity has increased significantly over the past few days.
Token Terminal data showed that Bittensor (TAO) hit $1.5 billion in 24-hour volume, marking one of its strongest spikes since early October. Despite everything, this rise in power was accompanied by a clear change in domination.
Recent measurements have shown that sellers control both the spot and futures markets.
Source: Token Terminal
Sellers Hold Advantage as TAO Breaks Key Support
The TAO structure weakened after falling below the $290 support.
This level has served as a base since July and has often triggered reversals. That said, the chart shows that sellers extended their control after the TAO peaked on November 1st.
Each bounce faded quickly and the token printed consecutive red candles throughout November.
Source: TradingView
This break below $290 removed a major demand area. This left TAO exposed to greater downside risk, without strong support immediately below.
CryptoQuant’s Cumulative Volume Delta Spot Taker showed continued dominance on the sell side. The 90-day profile has turned red in recent sessions, signaling greater market order selling.
In addition to this, the volume of spot purchases has decreased. TAO struggled to maintain his recoveries for more than a few sessions.
Source: CryptoQuant
Can TAO recover or will sellers push it lower?
The TAO’s next move depended on buyers returning with significant volume. A short-term rebound could appear if demand increases sharply.
On the other hand, seller dominance and the confirmed break below $290 kept the bearish structure intact.
