Bittensor Slumps to $222 Amid Whale-Driven Selling Pressure

Bittensor's price has been under intense selling pressure since its rejection at $285. In the past week, the altcoin has posted lower lows for seven consecutive days, reaching as low as $222.

Amidst this sustained sell-off, Bittensor fell below both its short- and long-term moving averages, indicating persistent bearish pressure. The Relative Strength Index (RSI) formed a bearish crossover and dropped to 44, reinforcing the weakening market structure.

Data from CryptoQuant suggests that whale activity has increased during this period, with large orders entering the market. However, the Spot Taker CVD remained negative, indicating sellers maintained control of market activity.

The Spot Buy Sell Volume metric also revealed that sell volume consistently exceeded buy volume since June 14th, further emphasizing the dominant selling pressure.