TAO Drops 7% After the Raydium Rally: Is a Bigger Move Coming?

• The token dropped 7% as open interest and spot demand weakened.
• Bulls must reclaim $291.6 and $300 to strengthen the recovery outlook.
• A dip toward $190 could attract buyers seeking another bullish reaction.

Bittensor — TAO, has suffered a sharp pullback after showing strong momentum earlier this month. The token dropped nearly 7% within 24 hours. TAO has also posted losses each day since Monday, September 7. Open interest fell 14.3% during the same period. Spot CVD also continued declining, signaling weaker market demand. The recent weakness follows TAO's rise toward $277. Traders now wonder whether buyers can regain control soon.

Bittensor Faces Weak Demand After Recent Rally

TAO reached a three-month high near $277 after launching on Raydium. The move gave bulls fresh confidence after months of challenging price action. However, recent selling has quickly erased part of those gains. Coinalyze data shows open interest dropped 14.3% within 24 hours. Spot CVD has also declined steadily since Monday. Together, these indicators point toward weaker spot and derivatives demand.

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