- At the time of writing, Bittensor was in the winning rankings.
- Smart Money collects TAO en masse.
Bit tensor [TAO] continues to show strong momentum within the AI cryptocurrency ecosystem. At the time of writing, TAO had gained over 16%, making it one of the biggest gainers of the past 24 hours for the top 100 cryptocurrencies by market cap. CoinMarketCap.
Furthermore, trading volume increased by 77%, placing it among the top 30 most traded assets, further underscoring its growth potential. Bittensor’s recent price action reflects this upward momentum, with the TAO/USDT pair posting significant gains.
After breaking the widening falling wedge pattern, TAO is up over 108%, reinforcing its bullish outlook.
Source: TradingView
With the current market conditions, there is speculation that TAO could reach the $800 price level if the broader crypto market continues its positive performance during this last quarter of the year.
A short correction is expected before this increase, making it important to identify a safe entry zone just below the current range.
Smart money accumulation
One of the key factors supporting TAO’s potential rise to $800 is its strong accumulation by Smart Money. Over the past seven days, TAO has been ranked as the number one token collected by Smart Money investors.
It has overtaken other assets like Solana [SOL] and now leads the Smart Money accumulation table, putting it ahead of popular projects like Maker [MKR] and rendering [RNDR].
Source: CryptoAI
This indicates that major investors believe in TAO’s potential, especially as AI-related coins continue to outperform other crypto sectors.
TAO’s position as a leader in the AI coin market, combined with increased interest in Smart Money, further strengthens the argument that an $800 price target is achievable if broader market conditions remain favorable.
Global percentage of long accounts
In addition, the global percentage of long accounts for TAO, which had previously declined, is now showing signs of recovery. More and more traders are taking long positions on TAO, reflecting growing confidence in the asset’s upward trajectory.
This increase in long positions is consistent with the bullish sentiment surrounding TAO, especially as AI coins continue to outperform the broader cryptocurrency market.
Historically, the last quarter of the year (Q4) has been bullish for the cryptocurrency space, and if this pattern holds, TAO could be well positioned to benefit. However, it is important to remember that the crypto market remains volatile and unpredictable.
Bittensor (TAO) is showing strong momentum, supported by smart money accumulation and a recovery in long positions. If these trends continue, TAO could potentially reach the $800 mark, making it a coin worth checking out as the year comes to a close.
