Bittensor’s $TAO token dropped below the $250 threshold on Thursday, marking its fourth consecutive day of decline as retail interest weakens and overall market sentiment turns sour.
Open Interest and Futures Activity
Derivatives data reveal a sharp contraction in speculative demand for $TAO. Over the past 24 hours, CoinGlass reports that futures open interest fell more than 6 %, reaching roughly $252.08 million, indicating traders are exiting positions rather than adding new exposure.
Risk Sentiment and Liquidations
Risk‑off behavior intensified across the $TAO market, with total liquidations climbing to about $1.67 million and bullish positions accounting for $1.48 million of that amount. Funding rates slipped to 0.0018 %, demand for leveraged longs weakened, and trading volume contracted by 14 %.
Price Outlook and Support Levels
The 4‑hour $TAO/USD chart displays a bearish trend, as the coin shed approximately 6 % of its value in the last day. Analysts note that the token is nearing a crucial support zone near $200, a level that could dictate whether prices stabilize above that mark.