Bittensor Price Skyrockets as Elon Makes a Move on OpenAI – Are AI Tokens About to Explode?

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Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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February 12, 2025 06:19 EST

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Bittensor (TAO) surged to $437 today before retracing to $397, as Elon Musk’s $97.4 billion bid for OpenAI sends shockwaves through the AI and crypto markets.

The takeover attempt—led by Musk’s xAI, along with Baron Capital Group and Emanuel Capital—seeks to block OpenAI’s shift toward a for-profit model, fueling speculation that AI tokens could be the biggest beneficiaries.

Musk, who co-founded OpenAI in 2015, has long criticized its departure from open-source AI development. He argues the company has strayed from its original mission of making AI accessible and safe for all.

“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was. We will make sure that happens.” – Elon Musk

However, OpenAI CEO Sam Altman was quick to dismiss the offer, responding sarcastically on X (Twitter), “No thank you, but we will buy Twitter for $9.74 billion if you want.” While the exchange made headlines, the crypto market had a different reaction.

AI Tokens Surge as Investors Shift Focus

Musk’s bid triggered a surge in AI-related cryptocurrencies, with the sector’s total market cap jumping 11% to $30 billion. Meanwhile, AI-powered agents—decentralized AI models—saw an even greater 18% surge, pushing their valuation above $7.8 billion.

A growing number of crypto investors are now pivoting away from meme coins and toward utility-based AI-driven projects. This shift reflects a broader trend, as blockchain-powered AI solutions continue gaining mainstream adoption.

Key AI Crypto Gains Post-Musk’s Announcement:

• AI Coin Market Cap: +11% to $30 billion
• AI Agents Valuation: +18% to $7.8 billion
• Bittensor (TAO) Ecosystem: +17% to $3.6 billion

Bittensor (TAO) Leads AI Crypto Boom

Among AI-focused cryptocurrencies, Bittensor (TAO) is emerging as a clear leader. The token surged 17%, driven by the dTAO upgrade, which increased adoption and network activity. This has pushed its ecosystem valuation to $3.6 billion.

Crypto analysts are eyeing TAO’s price action, with some predicting a potential breakout if bullish momentum holds.

“TAO is showing impressive strength, poised for a potential trendline breakout on the wedge. With AI coins rebounding, this presents a compelling opportunity for midterm gains.” – Leading Crypto Analyst

As meme coin speculation cools off, AI-powered blockchain projects like TAO are attracting serious investor interest. This suggests a broader market shift toward real-world applications and away from hype-driven assets.

Bittensor (TAO) Price Analysis: Holding Key Support, Eyes on $437

Bittensor (TAO) is currently trading at $398.82, down 0.71% on the day. Despite a minor pullback, TAO remains above the 50-day EMA ($386.80) and a key ascending trendline, indicating that bullish sentiment remains intact.

The token recently tested resistance at $437.30, where sellers stepped in, causing a temporary decline. A breakout above this level could fuel gains toward $469.14, with $497.74 as the next major resistance zone.

On the downside, immediate support lies at $388.65 (50 EMA), followed by $352.53. A drop below these levels could accelerate selling, targeting $319.73 and $282.87, signaling a potential trend reversal.

Key Price Levels to Watch:

• Resistance: $437.30, $469.14, $497.74

• Support: $388.65, $352.53, $319.73

If TAO holds above $388.65, bulls may attempt another rally. However, a break below the trendline could shift momentum in favor of the bears.

Final Thoughts

With Musk’s bold bid for OpenAI reigniting the AI investment narrative, AI-driven cryptocurrencies are experiencing renewed momentum. TAO remains a top contender, with analysts watching for a potential breakout above $437.30 to confirm continued bullish strength.

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