Affected by the governance turmoil, TAO has seen short-term market sentiment cool, with its price plunging sharply from a high and finding initial support at $230. The $250 level serves as the current bull-bear dividing line; a breakdown below $230 would intensify downside risks. Institutions continue to participate through staking and custodianship, and the fundamentals retain medium- to long-term recovery potential. For short-term traders, it is advisable to buy in batches within the $240–260 range while controlling position size and stop-loss. Aggressive traders may consider increasing exposure only after the price clearly reclaims above $280.

Recently, tensions among core members of the TAO network have escalated, as major participating teams collectively exited and dumped tokens, leading to concentrated short-term selling pressure. The price plummeted by more than 20% in a single day, with trading volume doubling. Market sentiment rapidly shifted from optimism to caution, giving bears an opportunity to add pressure while bulls' confidence weakened.

TAO's price dropped over 9% in 24 hours to $292.7, with its market value falling to $3.211 billion. Decentralized AI training team Covenant AI announced its exit from the Bittensor network, accusing core member Jacob Steeves (Const) of betraying decentralization. Covenant AI's founder Sam Dare revealed Const's actions against their team, including halting token emissions and imposing economic pressure through token sell-offs. Covenant AI criticized Bittensor's governance as a "decentralization theater," claiming Const controls decisions unilaterally.

TAO fell more than 9% in 24 hours, with its market cap dropping to $3.211 billion.

The TAO token of Bittensor dropped over 20% to around $273 following the exit of Covenant AI, citing governance issues and fears of centralization. Covenant AI's departure and token liquidation triggered a sell-off, worsening market sentiment and causing leveraged investors to liquidate positions, accelerating the decline. TAO is now testing support between $250-$263, with recovery above $280 needed for bullish momentum, while risks remain high amid ongoing governance concerns.

TAO Token of Bittensor Tumbles by 20% Post Governance Conflict Triggers Sell-Off in Market

Bittensor ($TAO), a leading decentralized AI project, faces a major crisis as top developer Covenant AI, after training a 72B parameter model, abruptly exited, accusing founder Jacob Steeves of authoritarian control and arbitrary token reward cuts. This exposed the "impossible triangle" of decentralized AI: balancing model scale, trustless decentralization, and aligned incentives. The incident triggered a sharp $TAO price drop and raised doubts about true decentralization in DeAI governance.

The Collapse of $TAO: Insights from the Infighting in Bittensor on the "Impossible Triangle" of DeAI.

On the daily chart, the large bearish candle on April 10 broke through the lower limit of the previous consolidation range, and after touching support near $230, a marginal rebound appeared. In the following days, TAO fluctuated within the $240 to $260 range, with $250 becoming an important short-term inflection point. Recovering and holding this level could enable profitable retracements; losing $230 again could open up a new round of declines.

Bittensor (TAO) price dropped over 5% to around $242 amid internal turmoil following the departure of its largest subnet, Covenant AI, which criticized the network's decentralization. Despite a bullish crypto market and high open interest of $400 million, the token remains sensitive to price swings. The controversy caused a 20% price drop, with key support at $230 and resistance at $250. Bittensor's market cap is about $2.62 billion, with daily volume near $376 million.

Bittensor (TAO) Price Drops 5% as Open Interest Stays High

Despite sharp short-term volatility, institutions continue to deploy through trusts and custodial tools. The newly introduced lock-up incentive mechanism aims to enhance network transparency and holder confidence, while the restructuring of the miner community and core team helps stabilize protocol operations. Supply-side improvements from these mechanisms are beneficial, supporting fundamentals with medium- to long-term recovery potential.

Jacob Robert Steeves, co-founder of Bittensor, accused Covenant AI founder Samuel Dare of betraying the community and causing harm to TAO holders. Steeves apologized to affected users and announced plans to introduce a "Locked Stake" mechanism to enhance transparency and investor protection. He confirmed that the miner community and former Covenant team members are taking over related subnet work, with the code open-sourced and functionality unchanged.

Bittensor's co-founder accuses Covenant AI's founder of betraying the community and plans to launch a lock-up staking mechanism.

Bittensor (TAO), a decentralized AI network token, declined 3.54% to $251.92 amid sector volatility and a major subnet operator's exit. Despite a short-term bearish trend, TAO remains above key support levels and aligned with Bitcoin's performance. Institutional interest persists, with Grayscale launching a TAO Trust and significant stakes by Digital Currency Group affiliates. Controlled supply and growing utility suggest potential recovery opportunities amid ongoing market challenges.

Bittensor (TAO) Extends Losses—Why Smart Money Is Watching Closely

High-leverage long positions are active in the market, with several large TAO purchases recorded. Short-term traders should be wary of liquidation risks and consider allocating positions in batches at key support zones, controlling costs and setting sensible stop-losses. For trend-following participants, increasing positions can be considered once the price returns above $280. Conservative traders may implement range hedge strategies within $240–260, balancing returns and risk.

Trader Loracle has increased their 7x leveraged CL short position to $19.76 million and added a 5x leveraged TON long position. They also hold long positions in BTC, NEAR, LIT, TAO, PAXG, and ENA, with a total value exceeding $47.17 million.

Trader Loracle increased short positions on CL to $19.76 million, with total long positions exceeding $47.17 million.

A Bittensor developer sold 37,000 TAO tokens and left the network, causing TAO's price to drop 25%. An analyst outlines three potential scenarios for TAO: recovery, sideways movement, or a breakdown toward $143. Key price levels and governance issues are highlighted as critical factors influencing the token's future.

A Bittensor Developer Dumped 37,000 TAO Crypto and Quit the Network: Is the Governance Crisis Just Getting Started?

Bittensor

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Bittensor Price: TAO Live Price Today | TAO Market Cap & Chart Analysis | Bybit-eu

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TAO price today is 259.59, with a live price change of 6.28 in the last 24 hours. Convert, buy, sell and trade TAO on Bybit-eu.

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