What caused Bittensor TAO's 30% drop?

Covenant AI's exit and 'decentralization theater' accusation triggered it, spiking sell volume and liquidating longs.

Is Bittensor truly centralized?

Accusations point to skewed validators and emissions; needs on-chain proof to debunk.

Will TAO recover soon?

Fractals say 25-45% more downside first—$144 possible—before any bounce, if fixes happen.

$144 per Fib targets, but network collapse could push lower.

Bittensor's TAO Teeters on 45% Crash Edge After Covenant AI's Scathing Exit

Covenant AI just walked out on Bittensor, branding it 'decentralization theater'—and TAO's already down 30%. Charts scream more pain ahead, up to 45% lower.

theAIcatchup Apr 10, 2026 3 min read

Bittensor TAO price chart showing 30% drop with Fibonacci retracement levels and Covenant AI exit news overlay

⚡ Key Takeaways

Covenant AI's exit accuses Bittensor of 'decentralization theater,' driving 30% TAO drop to $249. 𝕏
Fractals signal another 25-45% plunge to $144 amid rising volume and liquidations. 𝕏
Unique risk: Echoes Solana/EOS centralization fails—builders fleeing could kill growth. 𝕏

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theAIcatchup

Markets. Money. Innovation.

#AI blockchain #Bittensor #TAO token #crypto fractals #crypto price crash #decentralization #decentralization theater

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Originally reported by Cointelegraph

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