Key Takeaways
What triggered TAO’s recent 12% surge?
Ah, the sweet smell of redemption! TAO soared by 12% after an investigation into a $28 million hack was finally concluded, restoring a sense of calm to nervous investors. And with $25 million flowing in like a fresh gust of wind, it seems like TAO is back in business.
What’s next for TAO’s price?
Now standing at the mighty $447 resistance, TAO faces a crucial test. A clean breakout could see it rise to $476, and-who knows?-perhaps even touch a thrilling yearly high of $588. The suspense is palpable!
In the last 24 hours, Bittensor [TAO] has made a strong recovery, posting a 12% gain after the investigation into a $28 million hack was resolved. Investor confidence? Restored. That sweet, sweet optimism has sparked a wave of $25 million in fresh capital.
After enduring a painful 44% drawdown, the AI token has started to show signs of life again, much to the relief of those who had their doubts. And while the asset surged 12% in the past day, many investors are already placing their bets on further upward momentum.
Investigation Boosts Investor Outlook
The mystery surrounding the hack has finally been unraveled, and surprise, surprise-guess who was behind it? A former Bittensor employee! The plot thickens… A detailed post-mortem by on-chain investigator ZachXBT, shared publicly on X, shed light on the situation. The hack affected a total of 32 TAO holders, but with a civil lawsuit in the works, there’s finally some light at the end of the tunnel.
As the story unfolded, so did the sentiment. Just a few days ago, 74% of investors were feeling optimistic. Fast forward to today, and 86% of them are betting that TAO’s upward march is just beginning. Capital is pouring back in, and it’s a beautiful sight to behold.
Perpetual Market Remains Strong
The perpetual futures market continues to show strength, with a 9.95% increase in Open Interest, now sitting at a comfortable $26 million. Traders, it seems, are still betting on TAO’s future success. The Funding Rate remains positive, further confirming that most are looking to capitalize on the upside potential.
Meanwhile, spot investors have been taking profits, adding a bit of downward pressure. With a $5.25 million sell-off already on the books, short-term holders could cause more turbulence. Will they spoil the fun for everyone else? We shall see.
New High in Sight
The technical analysis paints an intriguing picture for TAO. It’s currently dancing around the $447 resistance level-watch out, that’s a tricky one. If it can break through this barrier, the path is clear for a climb to $476. And beyond that? A glorious new high of $588 is within reach.
Will TAO soar to new heights, or will it stumble at the final hurdle? Only time will tell, but the indicators, including the Relative Strength Index (RSI), are showing rising momentum, which suggests we might be in for a pleasant surprise.
Read More
- Gold Rate Forecast
- Brent Oil Forecast
- Marvel Zombies Loses #1 Streaming Spot, Beaten Out By Disney’s Biggest Flop of 2025
- Katanire’s Yae Miko Cosplay: Genshin Impact Masterpiece
- Valorant Agent 29 Veto: Abilities and everything we know
- HBAR Bulls Face $30M Tragedy: A Tolstoyan Tale of Crypto Woes 😱
- FCC Chair Brendan Carr to Testify Over Jimmy Kimmel Suspension Controversy
- Wizards Beyond Waverly Place Season 2 Episode 6 Release Date, Time, Where to Watch
- Silver Rate Forecast
- New Avatar 3 Clip Reveals the Sully Family’s Big Mistake
2025-10-20 11:08