Bittensor Price Analysis: TAO volumes surge 350% on Coinbase listing and Elon Musk’s bid for OpenAI

Bittensor (TAO) price rallied 35% over the past three days, emerging as the best-performing asset among the top-20 ranked cryptocurrencies. On-chain trading metrics reveal that the Coinbase listing and Elon Musk’s bid for OpenAI have emerged as key catalysts supporting TAO’s market-leading performance.

Bittensor rallies 35% as Elon Musk intensifies move to acquire OpenAI

Bittensor appears to be decoupling from broader cryptocurrency trends. Recent events, including the disruptive launch of Deepseek and Elon Musk’s expressed interest in acquiring OpenAI, have shifted market focus toward the burgeoning decentralized AI ecosystem. 

Bittensor is increasingly seen as emblematic of decentralized AI, contrasting sharply with the closed model employed by OpenAI — a model that has drawn criticism from Musk and supporters of open-source blockchain technologies.

In late January, TAO experienced a pronounced rally after Deepseek’s launch unsettled OpenAI’s market position and valuation. 

Even as major cryptocurrencies and tech stocks suffered declines, TAO posted double-digit gains that week.

Bittensor (TAO) price analysis | Feb 20

Elon Musk’s potential takeover has further amplified bullish sentiment for Bittensor with market participants speculating that such a move could nudge OpenAI toward an open-source model.

This would be a vision reminiscent of OpenAI founder Sam Altman’s original nonprofit promise. Bittensor (TAO) price rallied 35% over the past three days, emerging as the best-performing asset among the top-20 ranked cryptocurrencies. 

Coinbase listing sparks 350% surge in TAO trading volume

On Wednesday, Coinbase alerted the community that trading for TAO on the Bittensor network had been enabled, marking a significant milestone for the project. 

Coinbase announcing Bittensor (TAO) listing | Source: X.com/Coinbase

Within 24 hours of the announcement, TAO price gained an additional 6%, pushing its three-day gains to 35% and reaching a 30-day peak of $469.80. 

Bittensor Trading Volume vs. TAO price | Source: Santiment

Data from Santiment underscores the strength of this development.

According to the firm’s Large Holder Netflow metric, TAO trading volume soared 350% in the last three days, jumping from $72 million on Monday to $353 million on Thursday at press time. 

This volume increase far outpaces the 35% price gains recorded this week by ten-fold, indicating market strength.

When an asset’s trading volumes increase at a much higher rate than price, it signals stronger buying interest from a higher number of market participants. 

These conditions may allow TAO to eke out further gains and build resilient support bases  at key price levels if market euphoria subsides in the coming days.

Notably, the Coinbase listing effectively opened new markets for Bittensor,  especially among US-based institutional traders who dominate Coinbase’s clientele.

As Elon Musk's bid to take over OpenAI intensifies, it could further amplify its appeal to both institutional investors and high-net-worth individuals based in the US.  

Bittensor Price Forecast: $500 breakout remains viable 

As regulatory clarity improves and industry interest in decentralized AI intensifies speculation surrounding Coinbase’s listing and Elon Musk’s strategic moves to acquire OpenAI could prove decisive in setting the stage for a decisive Bittensor (TAO) price breakout towards the $500 level. 

The TAOUSDT daily price chart below reveals a widening Bollinger Band structure, indicating heightened volatility, while the price trades near the upper band at $469.8.

Historically, price action near the upper band suggests overextension, but the increasing volume hints at sustained demand.

The Parabolic SAR, plotted well below the price at $269.6, reinforces the prevailing positive momentum.

The Relative Strength Index (RSI) has climbed to 59.9, approaching overbought conditions but still below the critical 70 level.

This indicates potential room for further upside before buyers face exhaustion.

The recent 35.74% three-day rally mirrors an earlier 37.81% surge in early February, signaling repeated bullish impulses.

However, the prior 20.87% correction that followed suggests potential consolidation before a decisive move.

If bulls sustain momentum above $469, TAO could retest $500. However, failure to hold support at $439 risks a pullback toward $376, where demand could stabilize price action.