Bittensor's native token, TAO, has plunged 16% in the last 24 hours, hitting a low of $389. This sharp decline surpasses the 9% drop seen in the broader AI sector and occurs amid a widespread cryptocurrency market sell-off. Bitcoin's value has also decreased, nearing $100,000, while the total market capitalization has fallen below $3.4 trillion. The downturn in TAO's price follows a period of gains driven by AI stock performance but has now reversed, with trading volumes increasing by 17% to $712 million. Analysts attribute the sell-off to macroeconomic pressures and panic selling, further intensified by profit-taking after the launch of Europe's first staked TAO ETP by Safello.