AI-focused cryptocurrencies extended losses on Monday as risk-off sentiment pushed the sector’s total market capitalisation down 3.4% to about $12.5 billion.
Bittensor fell for a third straight session, trading near $158 and edging closer to last week’s $142 lows as investors retreated to the sidelines.
The weakness spread across major AI tokens, with Internet Computer down nearly 7% on the day and Near Protocol sliding about 6% amid broader market pressure.
Derivatives data shows declining confidence, with Bittensor futures open interest dropping to $106 million, its lowest level since September 2024.
Open interest peaked at $418 million in November when TAO traded near $539, underscoring how sharply speculative interest has cooled alongside price.
Technically, TAO remains well below its 50-day, 100-day and 200-day exponential moving averages, all of which slope lower and reinforce the bearish trend.
Analysts warn that failure to break descending resistance could expose an 11% downside move toward $142, even as oversold indicators hint at the potential for a brief pause or minor bounce.
At the time of reporting, Bittensor price was $161.70.