Bittensor (TAO) has recently seen its market structure shift dramatically, as aggressive selling pressure and a critical support break signal a challenging period ahead for the digital asset. Recent trading activity, despite a surge in volume, indicates that sellers have firmly taken control, pushing TAO into a distinctly bearish trend.
Bittensor's Bearish Turn: The $290 Breakdown
A pivotal moment for Bittensor's market structure occurred with its decisive breach of the $290 support level. This price point had served as a crucial multi-month demand zone since July, frequently triggering price reversals and establishing a baseline for TAO. However, following a peak on November 1st, sustained selling pressure led to consecutive red candles throughout the month, ultimately shattering this key support. The loss of the $290 level effectively removed a major demand barrier, exposing TAO to significant downside risk without immediate strong support.
Persistent Selling Pressure and Volume Dynamics
Despite a sharp increase in trading activity, with Bittensor recording $1.5 billion in 24-hour volume, this surge was overwhelmingly dominated by sellers. Metrics reveal that aggressive market-order selling, rather than accumulation, drove the volume spike. The Spot Taker Cumulative Volume Delta (CVD) consistently leaned red over recent sessions, unequivocally confirming the sell-side dominance. Furthermore, spot buying volume thinned out considerably, resulting in TAO's inability to sustain any recovery attempts for more than a few sessions, with bounces fading quickly under renewed bearish pressure.
The Path Forward: Awaiting Buyer Resurgence
The immediate future for Bittensor largely hinges on a substantial return of buyer volume. While a short-term bounce remains a possibility if demand sharply increases, the confirmed break below the critical $290 level and the persistent seller dominance keep the bearish structure firmly intact. Without a significant resurgence of buying interest, TAO remains vulnerable to further downward movement, with its market outlook heavily skewed towards continued decline.
