Bittensor's TAO token faced significant selling pressure recently, sliding 6.08% over the past 24 hours amid broader altcoin weakness. The primary culprit appears to be the halving event, which cut daily token issuance in half. Miners holding their newly earned rewards face mounting pressure to liquidate, creating near-term selling headwinds that the market is struggling to absorb.

From a technical standpoint, TAO broke through the $262 support level—a key threshold traders were monitoring. The RSI indicator dropped to 37, signaling oversold conditions but also reflecting sustained downward momentum. This combination of fundamental pressure from the halving and technical breakdown suggests the token could face additional headwinds in the short term.