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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Bittensor’s price surged to $437 before retracing to $397, as Elon Musk once again makes headlines—this time with a $97.4 billion bid to acquire OpenAI.
The move, backed by his AI startup xAI, along with Baron Capital Group and Emanuel Capital, aims to halt OpenAI’s transition into a for-profit entity.
Musk, who co-founded OpenAI in 2015, has long criticized its departure from open-source AI development. He argues the company has strayed from its original mission of making AI accessible and safe for all.
“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens.” – Elon Musk
However, OpenAI CEO Sam Altman was quick to dismiss the offer, responding sarcastically on X (Twitter), “No thank you, but we will buy Twitter for $9.74 billion if you want.” While the exchange made headlines, the crypto market had a different reaction.
AI Tokens Surge as Investors Shift Focus
Musk’s bid triggered a surge in AI-related cryptocurrencies, with the sector’s total market cap jumping 11% to $30 billion. Meanwhile, AI-powered agents—decentralized AI models—saw an even greater 18% surge, pushing their valuation above $7.8 billion.
A growing number of crypto investors are now pivoting away from meme coins and toward utility-based AI-driven projects. This shift reflects a broader trend, as blockchain-powered AI solutions continue gaining mainstream adoption.
Key AI Crypto Gains Post-Musk’s Announcement:
- AI Coin Market Cap: +11% to $30 billion
- AI Agents Valuation: +18% to $7.8 billion
- Bittensor (TAO) Ecosystem: +17% to $3.6 billion
Bittensor (TAO) Leads AI Crypto Boom
Among AI-focused cryptocurrencies, Bittensor (TAO) is emerging as a clear leader. The token surged 17%, driven by the dTAO upgrade, which increased adoption and network activity. This has pushed its ecosystem valuation to $3.6 billion.
Crypto analysts are eyeing TAO’s price action, with some predicting a potential breakout if bullish momentum holds.
“TAO is showing impressive strength, poised for a potential trendline breakout on the wedge. With AI coins rebounding, this presents a compelling opportunity for midterm gains.” – Leading Crypto Analyst
As meme coin speculation cools off, AI-powered blockchain projects like TAO are attracting serious investor interest. This suggests a broader market shift toward real-world applications and away from hype-driven assets.
Bittensor (TAO) Price Analysis: Holding Key Support, Eyes on $437
Bittensor (TAO) is currently trading at $398.82, down 0.71% on the day. Despite a minor pullback, TAO remains above the 50-day EMA ($386.80) and a key ascending trendline, indicating that bullish sentiment remains intact.
The token recently tested resistance at $437.30, where sellers stepped in, causing a temporary decline. A breakout above this level could fuel gains toward $469.14, with $497.74 as the next major resistance zone.
On the downside, immediate support lies at $388.65 (50 EMA), followed by $352.53. A drop below these levels could accelerate selling, targeting $319.73 and $282.87, signaling a potential trend reversal.
Key Price Levels to Watch:
- Resistance: $437.30, $469.14, $497.74
- Support: $388.65, $352.53, $319.73
If TAO holds above $388.65, bulls may attempt another rally. However, a break below the trendline could shift momentum in favor of the bears.
Final Thoughts
With Musk’s bold bid for OpenAI reigniting the AI investment narrative, AI-driven cryptocurrencies are experiencing renewed momentum. TAO remains a top contender, with analysts watching for a potential breakout above $437.30 to confirm continued bullish strength.
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