Bittensor Price Plummets Below $300 Amid Market Downturn

Bittensor's TAO price fell significantly on Thursday, slipping below the $300 support level as a result of the market downturn. This decline was in line with Bitcoin's drop, which saw the cryptocurrency slip below $80,000 amidst concerns over hot US inflation data and geopolitical uncertainty.

The sell-off in Bittensor was particularly severe, with the price dropping by more than 4% within a short period. The Relative Strength Index (RSI) on the daily chart suggests neutral conditions that could be taken advantage of by sellers. A decisive breakdown below $290 risks a sharper correction towards the $270-$260 confluence.