- TAO surged 23% after Europe introduced the first Bittensor Staked ETP.
- Trading volume and open interest soared, signaling strong investor participation.
- Bullish momentum may continue if demand outpaces profit-taking activity.
Bittensor — TAO, recently pulled off a strong breakout that caught traders’ attention across the market. After moving sideways for two weeks, the token suddenly jumped 23%, reaching a 10-month high of $539. The rally followed the debut of Europe’s first Bittensor-based exchange-traded product (ETP), signaling a wave of institutional interest. As volume surged and on-chain data turned bullish, TAO quickly became one of the week’s top performers.
ETP Launch Ignites Buying Pressure
According to Deutsche Digital Assets, in collaboration with Safello, the new product — Bittensor Staked TAO (ETP) — began trading on six Swiss exchanges. The ETP is fully backed by TAO tokens held in cold storage under a regulated custodian. Investors will earn a 10% annual yield, automatically reinvested, with management fees capped at 1.49%. This structure gives European investors direct exposure to Bittensor while offering an appealing yield.
The goal is to bridge traditional finance with decentralized artificial intelligence, channeling institutional capital toward blockchain innovation. That news alone sparked strong buying activity in both spot and futures markets. Spot trading volume on AI coin rose 109% to $950 million, showing fresh inflows. Data from Coinalyze revealed that buy volume exceeded sell volume by 41,000 TAO between October 31 and November 1.
Futures Market Turns Bullish
Futures traders also joined the rally. CoinGlass data showed derivatives volume jumping 90% to $2.37 billion, while open interest climbed 64.8% to $446 million. When both metrics rise together, it often signals growing participation and strong capital flow. Futures inflows reached $678 million, compared to $649 million in outflows. This 172% increase in net flow reflected large speculative interest.
The long-short ratio rose to 1.038 overall, with Binance’s top traders reaching 1.5, showing most participants favoring long positions. Meanwhile, some early holders took profits as prices hit levels last seen in January. Spot net flow dropped from $18 million to $7 million, confirming that a portion of investors locked in gains. However, selling pressure has so far remained contained as new demand absorbs supply.
Technical signals point to continued bullish momentum. TAO’s Relative Strength Index (RSI) touched 70, suggesting strong buying interest. Sequential Pattern Strength also rose to 35, reinforcing the ongoing trend. If buyers maintain control, TAO could target the $590 resistance zone in the near term. Still, a short-term correction is possible if profit-taking accelerates.
The next support area lies near $455, where bulls might regroup before another move higher. Bittensor surged 23% after Europe’s first staked TAO ETP went live. Trading activity and investor demand spiked sharply across spot and derivatives markets. Technical indicators remain bullish, pointing to potential continuation toward $590.
