\n<\/p>\n
\n\t\t\t\t\t\t\t\t\t\u201cI think that it still looks good and I have a bag of it that I\u2019m trading,\u201d one popular analyst stated.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Many leading altcoins are well in the green today (June 16), but Bittensor (TAO) has failed to follow the overall upswing, posting a substantial daily decline.<\/p>\n
Even so, several analysts think it could be gearing up for a rebound that might carry it back to multi-month highs.<\/p>\n
TAO currently trades at around $268, a 7% plunge over the past 24 hours. It is important to note that its decline occured despite Grayscale\u2019s positive remarks. Just hours ago, the digital asset management company claimed<\/a> that centralized companies like Anthropic are more vulnerable to government intervention and decentralized projects like Bittensor \u201coffer an alternative.\u201d<\/p>\n \u201cBittensor provides open-source, permissionless access to AI through a decentralized global network,<\/span>\u201d the firm posted on X.<\/p>\n<\/blockquote>\n X user Altcoin Sherpa noted<\/a> that TAO has lagged behind numerous well-known cryptocurrencies, suggesting the weakness may stem from traders pre-positioning and many already being fully allocated. At the same time, the analyst said TAO still \u201clooks good\u201d and that they remain invested in it.<\/p>\n \u201cThis current area is a bit of a resistance spot, 200d EMA + S\/R level, but if it can break here, I think the low $300s is my next area up,\u201d the X user added.<\/p>\n<\/blockquote>\n Ali Martinez also gave his two cents. He argued<\/a> that TAO is approaching the top of its descending channel and predicted that a decisive break could open the door to a jump to $350 and then $420.<\/p>\n The asset\u2019s recent exchange netflow raises the possibility of a short-term revival. Over the past few weeks, outflows have surpassed inflows, suggesting that many investors have abandoned centralized trading venues in favor of self-custody solutions, thereby reducing immediate selling pressure.<\/p>\n Another analyst who seems very fond of TAO is Michael van de Poppe. A few days back, he described<\/a> the token\u2019s chart as \u201cphenomenal\u201d and envisioned a potential price explosion to $500.<\/p>\n Shortly after, he opined<\/a> that the strongest altcoins from the previous months, including TAO, could extend their solid performance in the near term, provided Bitcoin (BTC) has already bottomed.<\/p>\n Recall that at the start of June, the primary cryptocurrency briefly collapsed to around $59,000 \u2013 its lowest point in 19 months. And while it has recovered well above $65,000 following the peace deal between Iran and the US, some analysts believe<\/a> the worst for this cycle has yet to come.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
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How About $500?<\/h2>\n
You may also like:<\/h3>\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n
![<\/a>TAO Exchange Netflow, Source: CoinGlass<\/figcaption><\/figure>\nHow About $500?<\/h2>\nAnother analyst who seems very fond of TAO is Michael van de Poppe. A few days back, he described<\/a> the token\u2019s chart as \u201cphenomenal\u201d and envisioned a potential price explosion to $500.<\/p>\nYou may also like:<\/h3>\nShortly after, he opined<\/a> that the strongest altcoins from the previous months, including TAO, could extend their solid performance in the near term, provided Bitcoin (BTC) has already bottomed.<\/p>\nRecall that at the start of June, the primary cryptocurrency briefly collapsed to around $59,000 \u2013 its lowest point in 19 months. And while it has recovered well above $65,000 following the peace deal between Iran and the US, some analysts believe<\/a> the worst for this cycle has yet to come.<\/p>\n\nSPECIAL OFFER (Exclusive)<\/span><\/center>\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\nLIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n<\/p><\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" \u201cI think that it still looks good and I have a bag of it that I\u2019m trading,\u201d…\n","protected":false},"author":2,"featured_media":42058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-44726","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/44726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44726"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/44726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/42058"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/06\/TAO-Exchange-Netflow.png\"){kind=link}