Bittensor price eyes $300 after Anthropic AI shutdown shock
Bittensor came back into focus after Grayscale said the U.S. order against Anthropic’s latest Fable 5 and Mythos 5 models gave investors a fresh reason to look at decentralized AI networks.
- Anthropic’s model shutdown pushed traders toward TAO, reviving debate over centralized AI access and control.
- Bittensor price sits near $262.08 after weekly gains, while analysts watch the $300 breakout zone.
- Grayscale says decentralized AI demand may rise as governments and labs control frontier model access.
Zach Pandl, Grayscale’s head of research, wrote on June 15 that the case showed the “centralized control of frontier AI technology” and the need for alternatives that do not depend on one company or one state gatekeeper.
Anthropic said on June 12 that the U.S. government ordered it to suspend access to Fable 5 and Mythos 5 for foreign nationals, including foreign national employees inside the United States. The company said it removed access for all customers to comply with the order.
Reuters reported that the U.S. Commerce Secretary Howard Lutnick linked the move to fears that the models could be used by foreign military intelligence users. Anthropic said it disagreed that a narrow jailbreak finding should force a full commercial model recall.
The order came days after Anthropic introduced the models. Its developer documents described Fable 5 as its most capable widely released model and Mythos 5 as a limited release for approved customers.
Bittensor gains attention after TAO rebound
Bittensor became part of the market reaction because its network presents itself as an open market for artificial intelligence resources. Grayscale described the project as an attempt to offer permissionless access to AI through a global network.
Pandl wrote that Bittensor is trying to do for AI what Bitcoin did for digital money, saying, “Think of it as Bitcoin for AI.”
“We expect demand for decentralized AI, like Bittensor and its TAO token, to continue to rise as investors seek alternatives,” he added.
TAO rallied after the Anthropic access change, according to Grayscale’s note, which said the token climbed 30% within 12 hours. The move showed how quickly traders linked centralized AI limits with decentralized AI assets.
Still, the rally did not remove short-term price risk. TAO traded at $262.08 on June 16, down 6.18% over 24 hours but up 21.2% over seven days.
The reaction also fits a broader market pattern in which AI-linked tokens often move on policy, infrastructure, and demand stories. For Bittensor, the latest driver was not only price action. It was also a test of whether investors see decentralized AI as a real alternative when access to closed models changes without warning.
Mixed Bittensor signals
TAO’s latest market data showed strong activity, but not a full recovery from earlier peaks. Crypto.news listed 24-hour volume at $393.4 million. The token ranked 40th by market value, with a market cap of about $2.51 billion and a fully diluted value of about $5.49 billion.
Meanwhile, its circulating supply stood at about 9.6 million TAO out of a total and maximum supply of 21 million TAO, which keeps supply design central to the project’s market story.
The same data showed that TAO remained 65.48% below its all-time high of $757.60 from March 7, 2024. Over the last 30 days, the token was down 2.6%, while its one-year return was down 30.14%. On April 10, the token fell more than 25% after Covenant AI, a large subnet operator, exited the network and raised centralization concerns.
That history keeps the current rally in context. Bittensor has drawn interest from traders tracking AI crypto assets, but its price has also reacted to disputes inside the network, subnet activity, staking flows, and broad crypto risk appetite. The Anthropic event adds a policy angle to an asset that already trades on several moving factors.
Traders focus on the $300 resistance area
Technical traders are now watching whether TAO can break above the upper area of its descending channel. Crypto analyst Ali Martinez said TAO was approaching the top of the channel, with $300 as the key level to watch. A clear daily close above that zone would weaken the bearish channel structure and open attention toward $320, $350, $380, and $420.
If TAO fails to break above $300, the move may remain a channel retest rather than a trend change. Near-term support sits around $260, followed by $230. Deeper support is near $200 and $170.
The latest RSI reading near 57 showed stronger momentum but not overbought conditions, while MACD showed a bullish crossover below the zero line.
Bittensor (TAO) price chart, source: crypto.news
That mix points to improving short-term momentum while the wider trend remains unconfirmed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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