\n\t\t\t\t\t\t\t\t\tWere some investors aware that such a pullback was about to happen?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The broader cryptocurrency market has staged an evident revival over the past 24 hours, with multiple leading digital assets well in green territory.<\/p>\n
For instance, altcoins like Zcash (ZEC) and Dash (DASH) have pumped by 20-30% on a daily basis, while Arbitrum (ARB) and Hyperliquid (HYPE) have posted more modest gains of 5-6%. However, some, like Bittensor (TAO), have tumbled by double digits.<\/p>\n
The Biggest Loser<\/h2>\n
TAO is the worst-performing cryptocurrency (at least in the top 100) today, with its valuation briefly sinking to $253, the lowest since mid-March. Currently, it trades at around $263 (per CoinGecko), down 20% from yesterday\u2019s figure. Its market capitalization fell to approximately $2.5 billion, and now TAO is the 38th-largest cryptocurrency.<\/p>\n The price decline was likely triggered<\/a> by Covenant AI\u2019s departure from the Bittensor network. The entity is a research group focused on building decentralized AI models, best known for creating Covenant-72B.<\/p>\n Covenant AI left Bittensor after claims that one person, co-founder Jacob Steeves, held too much control over key decisions. In their official message, they insisted that emissions to their subnet were suspended, their permissions were removed, and changes were made without their involvement, which they saw as proof of centralized governance.<\/p>\n The news captured the attention of numerous crypto commentators. X user Ash Crypto claimed<\/a> that, in addition to leaving Bittensor\u2019s network, Covenant AI has reportedly sold 37,000 TAO worth more than $10 million.<\/p>\n X user Ardi spotted another interesting development surrounding the cryptocurrency. He argued<\/a> that 24 hours before the news, sell volume hit its highest level since December 2024.<\/p>\n \u201cIf you think that\u2019s a coincidence, you don\u2019t understand the game you\u2019re playing. This was a calculated exit and execution. The wallets that already knew what was coming were unloading into the breakout attempt yesterday, using that strength to nuke millions in size well before the headline hit the market.\u201d<\/p>\n<\/blockquote>\n Ardi warned traders and investors to be careful, noting that they operate in a market where information is \u201cuneven, positioning is predatory, and you are exiting liquidity until you understand the game being played.\u201d<\/p>\n TAO\u2019s performance may be unsatisfactory, but some analysts, like Crypto Tony, said<\/a> it only gives opportunity vibes.\u201d<\/span><\/p>\n The asset\u2019s Relative Strength Index (RSI) signals a short-term rebound could indeed be on the horizon. The technical analysis tool measures the speed and magnitude of recent price changes and runs from 0 to 100.<\/p>\n Ratios below 30 indicate that TAO is oversold and ready for a potential resurgence, whereas anything under 70 is considered a precursor of a correction. As of this writing, the RSI stands at a mere 16.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
Buying Opportunity?<\/h2>\n
![\"TAO](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/04\/TAO-Price.png\")
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