Bittensor’s Devilish Dash: 32% Surge to $500 Hellscape? 😈🚀

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Key Takeaways

What triggered Bittensor’s latest rally, you ask? As if they’d tell us mortals! 🤭

Ah, Grayscale’s bureaucratic ballet with the SEC-a Form 10 filing that unleashed a 32% frenzy, propelling TAO towards its cursed resistance at $403. What a spectral spectacle! 👻💼

What could decide TAO’s next move? Maybe a coven of chart-witch cravings? 🔮

A victorious close above that demonic $403, with Open Interest hovering at $250 million like a lingering ghost, might summon a path to $489-$500. Or not. Who knows what dark forces lurk in the derivatives dungeon? 🧙‍♂️

Oh, institutional interest in Bittensor TAO-truly a potion of perpetual momentum! Grayscale, that shadowy alchemist, has conjured a Form 10 with the SEC, scheming to transmute its Trust into an Exchange-Traded Product. If the gods of bureaucracy approve, a flood of capital could drown us all, enticing retail peasants to sip from the valuation cauldron before it boils over. 😂💰

This mere anticipation has already whisked TAO 32% higher in 24 hours-talk about a satanic surge! Devilishly delightful, isn’t it?

Michael Sonnenshein, the CEO of Grayscale Investments, uttered these incantations:

“We believe that converting the Bittensor Trust into an Exchange-Traded Product reflects our commitment to increasing accessibility and regulatory alignment for institutional investors.”

A run to $500 for TAO? Like a witch on a broomstick chase! 🧙‍♀️🏇

TAO’s latest demonic dance shattered its long imprisoned consolidation-a descending resistance trap with horizontal support bars, no less! Our arcane charts prophesy three short-term haunts: $443, $489, and the mythical $500. But alas, confirmation demands TAO slamming shut above its resistance, that bullish graveyard at $403, where sellers cackle like hyenas. 🍸😂

Hastily surveyed by AMBCrypto’s voyeur eyes, other market phantoms suggest sustained momentum’s not just a pipe dream. Stay tuned, fellow sorcerers!

AMBCrypto peered into the crystal ball of market musings. And what did we see?

Bittensor’s derivatives maintain a bullish setup-beware the abyss! 😏📈

The market’s grand tapestry weaves bullish threads across realms. In the Perpetual Futures abyss, capital inflows surged to $250 million overnight, as investors pile into long positions faster than Faust sold his soul. 👹💸

At this scribbling hour, Derivatives Volume hovers at $553 million, while Funding Rates rise like vampire bats at dusk, whispering of unending upside. Rising volume with climbing prices? A clear omen of trends refusing to flip! 💃

Technical talismans concur. The MACD has crossed into bullish blessings for the first time, boasting a roguish 567.77. Meanwhile, Chaikin Money Flow idles at 0.67-pure buying mania, possibly a harbinger of fresh highs. Elixir of the gods or fool’s brew? Only time (and TAO) will tell. 🥂😜

All these eldritch elements conspire towards $500, if TAO clutches its breakout zone like a lover’s embrace. Otherwise, poof-back to the witching hour! ✨🚬

Retail takes profit-harvest time in the haunted harvest! 👻🍂

Yet amidst this bullish bacchanal, retail slumber stirs with caution. Traders aplenty are pocketing profits as TAO skyrockets-on-chain scrolls reveal a $7 million exodus in 48 hours. 🤑📉

The purge ignited at the week’s nefarious start, with $5.6 million whisked away, bearers of bearish banners marching proudly. As I pen this, another $1.4 million has vanished. Poof!

Still, this short-term sell fest whispers of healthy harvests, not apocalyptic reversals-inflows duel outflows like demons at dawn. Sustained dominance above $403 might validate the voodoo, but a flop could reset our spectral rally. Abide by the charts, ye cryptovoyeurs! 🔍😉

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2025-10-13 17:48