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10 Apr 2026, 12:45
TAO Plummets 25% as Bittensor Co-Founder Accused of Using Token Sales to Coerce Compliance
Bittensor’s native token, TAO, plunged 25% in six hours, dropping from $337 to $253. The crash wiped out over $650 million in market capitalization and triggered $9.1 million in long liquidations. Key Takeaways: Covenant AI left Bittensor on April 8, alleging co-founder Jacob Steeves maintains centralized control. TAO plummeted 25% to $253, wiping $650 million
10 Apr 2026, 10:37
Bittensor Price Prediction: Covenant AI Exits TAO, Forcing 16% Drop
Bittensor token price has collapsed by 17% in less than 6 hours after one of the network’s most prominent subnet developers publicly torched its relationship with the ecosystem, and the price prediction is getting bearish. The governance bombshell driving this selloff raises a harder question than most traders are asking right now. On Thursday, Covenant AI, the team behind the Covenant-72B model, widely credited as the largest decentralized LLM pre-training run in history, announced its exit from Bittensor. LATEST: BITTENSOR DROPS 16% AS COVENANT AI EXITS THE NETWORK OVER CENTRALIZATION CONCERNS Covenant AI ( @covenant_ai ) has exited Bittensor citing concerns over centralized control. The team said governance is not truly decentralized in practice. It alleged key decisions remain… pic.twitter.com/QlA4AoMWbG — BSCN (@BSCNews) April 10, 2026 Founder Sam Dare stated that “the promise that drew builders, miners, validators, and investors into this ecosystem is a lie,” accusing co-founder Jacob Steeves of asserting centralized control over Covenant’s subnet after it grew too prominent to ignore. Steeves has not publicly responded. The statement hit markets like a circuit breaker. TAO had surged 140% over six weeks, with 105% of those gains coming since March 8 alone, largely on the back of Covenant-72B’s success narrative and Grayscale’s filing for a TAO Trust. That entire credibility stack just developed a serious crack. Discover: The best crypto to diversify your portfolio with Bittensor Price Prediction: Can TAO Recover? At current levels near $280, TAO sits in genuinely dangerous technical territory. $300 was the immediate support level, and the price is already trading below it, which means the level has effectively been lost. On-chain data confirms the severity of the move, with TAO’s 24-hour decline registering among the steepest in the large-cap AI token sector. The April 9 rejection at $360 resistance preceded a bearish MACD crossover, with sellers already positioning before the news dropped. Social dominance for TAO reached a one-year high in early April, yet retail sentiment shows only 1.5 positive comments per negative comment, suggesting conviction in the prior rally was thinner than price action implied. TAO USD, TradingView TAO needs to reclaim $300 within 48 hours on a credible response from Steeves or Bittensor’s governance structure for it to stage a recovery toward $320–$330. But continued silence from leadership and further subnet departures can accelerate selling pressure toward $250 or lower. The parallel to other ecosystem selloffs triggered by major internal exits suggests recoveries can take weeks, not days. Watch the $300 level; this is the line. Discover: The best pre-launch token sales Bitcoin Hyper Draws Early Movers as TAO Tries to Recover Governance risk just repriced TAO’s entire decentralization premium, and that’s the precise vulnerability traders with longer memory have warned about. When a network’s core value proposition gets called a lie by its most successful builder, rotating capital doesn’t wait for confirmation. It moves. One destination attracting that rotated attention is Bitcoin Hyper ($HYPER) , a Bitcoin Layer 2 project positioning itself as the first-ever BTC chain with Solana Virtual Machine (SVM) integration. The pitch is structural: Bitcoin’s security and liquidity combined with sub-Solana-speed smart contract execution, breaking through BTC’s native limitations of slow transactions, high fees, and zero programmability. No governance triumvirate. No subnet politics. The presale has raised $32 million at a current price of $0.0136 , with staking available for early participants. The project’s Decentralized Canonical Bridge handles BTC transfers natively. Research Bitcoin Hyper before the next price step triggers. The post Bittensor Price Prediction: Covenant AI Exits TAO, Forcing 16% Drop appeared first on Cryptonews .
10 Apr 2026, 10:36
Covenant AI exits Bittensor over ‘decentralization theatre,’ TAO drops 18%
Covenant AI said it was leaving Bittensor due to its overreaching control on subnets and their large-scale TAO token sales, but Bittensor’s founder denied all allegations.
10 Apr 2026, 09:41
Bittensor’s TAO plunges as key subnet exits project
Bittensor’s TAO token crashed by over 20% as the project lost one of its busiest subnets. The Templar subnet team has announced it will abandon its position with Bittensor. Bittensor lost Templar, its busiest subnet, losing a substantial part of its liquidity. Following the news, the TAO native token lost over 20% to $264.05, down from recent local highs above $340. At the peak, the loss extended to 27%, a significant crash for one of the few remaining tokenized projects in the green. Bittensor’s TAO crashed after the Covenant AI founder sold 37,000 tokens, leading to an additional $9M in long liquidations. | Source: CoinGecko . TAO was one of the surviving narrative tokens, still preserving some of its gains from the 2024-2025 bull market. The project was also supported by investor interest, and TAO still has a relatively high mindshare of 0.8% on social media. Will Bittensor survive the loss of a major subnet? The TAO crash arrived after the Covenant AI project announced it would leave Bittensor, and several of Covenant’s subnets stopped receiving reward emissions. The Templar subnet also sold 37,000 TAO, enough to affect the market. The sale also translated into losses for anyone who invested and locked TAO into the Grail, Basilica, and Templar subnets. The 37,000 TAO tokens originated from the wallet of Sam Dare, Covenant’s co-founder. Covenant AI came up with a statement explaining its position and claimed Bittensor was not truly decentralized. “ When a single actor can suspend a subnet’s emissions, override an owner’s authority over their own community spaces, publicly deprecate projects without process, and use token sales as a coercive mechanism to compel compliance, that is not decentralization. It is centralized control with decentralized branding,” stated Covenant AI on X. Covenant claimed the Bittensor team suspended emissions on its subnets, froze its community channels, and destroyed its subnet infrastructure. According to Covenant AI, Bittensor was also not decentralized, and the co-founder had full control of the multisig wallet controlling the project. Bittensor stated it would survive and expand with other subnets not headed by a specific project. According to Steeves, the event will lead to subnets running as true commodities. This will prove to birth the first subnets on Bittensor that run headless and as true commodities. — const (@const_reborn) April 10, 2026 The Covenant AI project was significant, but according to Bittensor, it was running subnets mostly for emission rewards. The rift between Bittensor and Covenant AI may have lasting implications and split the community. For some, Bittensor will survive without Covenant, while others still seek true decentralization. TAO crash leads to liquidations In the short term, the TAO price swing caused additional liquidations in the past 24 hours. Over $9.44M in long positions were liquidated, with a total of $11.36M in liquidations for the past 24 hours. TAO is 53.13% unlocked and will continue with new emissions over the next few years. This is the main reason investors are staking and flocking to subnets for extra rewards. TAO is also a highly liquid token with a Binance listing, allowing for the sale of some of the rewards. The coming days will reveal whether TAO will keep crashing or it will be seen as a buying opportunity. As Cryptopolitan reported earlier, TAO is one of the tokens included in a Grayscele ETP, exposing the asset to external investors. Your bank is using your money. You’re getting the scraps. Watch our free video on becoming your own bank
9 Apr 2026, 18:33
XRP Price Prediction: Yesterday Was A Dead Cat Bounce – Time to Sell?
XRP price is sitting at $1.33, down as much as 4% in 24 hours, and the chart prediction is not flattering. The brief push toward $1.38 looked like momentum returning. It wasn’t. What followed was a swift rejection, accelerating volume, and a late-session flush to $1.31. Was the bounce an exit opportunity? XRP declined from $1.37 to $1.33 after failing to hold above $1.35, with high-volume selling confirming the breakdown. Ripple-linked ETF products did attract $3.32M in inflows, a reversal from March outflows, but inflows of that size couldn’t stabilize the price, which itself is a signal. Although the price clearly does not match the fundamentals , what Ripple is building to leverage XRP is nothing short of staggering, include what’s happening abroad , ETFs, and state level adoption , I think patience will be kindly rewarded !!’ pic.twitter.com/4jPCD8BbDT — Tanner (@TannerA207) April 9, 2026 Repeated rejection at $1.37–$1.38 with rising volume alongside falling price is a textbook distribution. Exchange liquidity has also thinned sharply, raising the risk of outsized moves once a key level gives way. XRP is underperforming against the crypto market, which raises the real question for holders right now. Discover: The best pre-launch token sales XRP Price Prediction: Reclaim $1.38 or Slope to $1.28? XRP’s price structure remains bearish below major moving averages, with lower highs forming into recent closes. The $1.33 level, or now, is the immediate support. The level that actually matters is $1.28, because a break there likely accelerates downside and would bring $1.23 into play. Resistance is stacked. XRP needs to reclaim $1.35 first, then clear $1.38, before any short-term momentum shift is credible. Until both flip to support, every bounce is suspect. XRP USD, TradingView Best case for XRP is for it to hold $1.33, reclaim $1.35 on volume, and flip $1.38, which will open a path toward $1.42–$1.45 resistance. But if $1.33 breaks, and $1.28 fails to hold, the decline might extend toward $1.23. Thin exchange liquidity amplifies the move. Institutional ETP flows have turned slightly positive, which prevents an outright collapse narrative, but $3.32M in inflows against heavy distribution pressure is a speed bump. The setup favors patience over conviction. If $1.35 doesn’t reclaim cleanly, the path of least resistance remains lower. Discover: The best crypto to diversify your portfolio with Bitcoin Hyper Targets Early-Mover Upside as XRP Tests Key Levels Watching an asset distribute at resistance while the broader market moves on is a particular kind of frustration. For those reassessing allocation at current XRP levels, one early-stage infrastructure play drawing attention is Bitcoin Hyper , a Bitcoin Layer 2 project integrating the Solana Virtual Machine directly onto Bitcoin, claiming to deliver faster transaction finality than Solana itself. The core proposition: Bitcoin’s security and trust layer, combined with SVM-powered smart contract speed and sub-second execution, addresses Bitcoin’s three structural weaknesses of slow transactions, high fees, and absent programmability. A decentralized canonical bridge handles BTC transfers natively. The presale has raised more than $32 million at a current token price of $0.0136783 , with staking available during the presale period at a high 36% APY rate . Research Bitcoin Hyper here . The Bitcoin Hyper presale recently crossed $32M raised as broader crypto sentiment shifted, a data point worth tracking for those monitoring presale momentum alongside macro conditions. The post XRP Price Prediction: Yesterday Was A Dead Cat Bounce – Time to Sell? appeared first on Cryptonews .
9 Apr 2026, 18:08
Bitcoin Wall Street Love Affair: Honeymoon Phase Cooling Down, But Affection
Bitcoin is sitting at 43% below its October peak, and yet Wall Street hasn’t blinked. The institutional product machine is still running at full speed. What happens next to the price may surprise both bulls and the newly converted suits. Morgan Stanley has rolled out its first dedicated Bitcoin fund, the latest in a string of Wall Street moves that signal a structural, long-term commitment to the asset class regardless of short-term volatility. The launch arrives as Bloomberg analysts note the “speculative heat” has clearly exited the market, the 40% drawdown from peak levels is evidence enough. BULLISH: MORGAN STANLEY'S BITCOIN ETF MAKES HISTORY ON DAY 1 $MSBT printed $34,000,000 in trading volume on day one, putting it among the most successful ETF debuts in market history. This is the first spot Bitcoin ETF issued directly by a major US bank. Morgan Stanley… pic.twitter.com/dTCV7pJS73 — BSCN (@BSCNews) April 8, 2026 But product launches don’t follow price; they follow conviction. Macro headwinds still remain real , with global trade disruption from the Iran conflict weighing on risk assets broadly. Though the divergence between institutional product activity and spot price weakness is the story we shouldn’t ignore. Discover: The best pre-launch token sales Can Wall Street Pump Bitcoin Price to $80K? Bitcoin is consolidating near the $71,000 level following a sharp multi-month correction. Volume has thinned during this drawdown phase, a pattern consistent with distribution giving way to accumulation. Technical readings suggest momentum is compressed, with the 200-day moving average acting as a line in for medium-term trend direction. The $68,500–$70,000 band represents the key near-term support cluster. A clean hold there keeps the recovery thesis intact. Resistance sits in the $76,000–$78,000 range; a weekly close above that level would shift the technical picture meaningfully. BTC USD, Tradingview Institutional, especially from Wall Street, Bitcoin buying pressure from the new Morgan Stanley fund flows, absorbs sell-side supply, forcing the price to grind back toward $80,000–$85,000 over four to six weeks. However, a weekly close below $67,000 invalidates the recovery structure and opens a retest of the $60,000 psychological level. The data points to patience being required here. Institutional conviction is building the floor; it isn’t yet building the ceiling. Discover: The best crypto to diversify your portfolio with Bitcoin Hyper: It’s Bitcoin, But Hyper When Bitcoin itself trades sideways, capital historically rotates toward higher-beta opportunities in the Bitcoin ecosystem, not away from Bitcoin entirely, but toward projects that amplify its thesis. That’s the window presale investors are currently watching. Bitcoin Hyper ($HYPER) is positioning directly inside that rotation. It’s the first Bitcoin Layer 2 integrating the Solana Virtual Machine, meaning developers get Bitcoin’s security and trust layer combined with sub-second smart contract execution that, by design, targets performance exceeding Solana’s own throughput. The project addresses Bitcoin’s three structural constraints simultaneously: slow transactions, elevated fees, and the absence of native programmability. The numbers are concrete. Currently, presale price stands at $0.0136 , with approaching $33 million raised to date. Staking is live with a high 36% APY also available to early participants. The presale has already crossed significant milestones , suggesting genuine demand rather than manufactured momentum. Traders looking for asymmetric exposure while BTC consolidates can research Bitcoin Hyper here . The post Bitcoin Wall Street Love Affair: Honeymoon Phase Cooling Down, But Affection appeared first on Cryptonews .
