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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 .

cryptonews 2026-04-10 13:37
Hyperliquid: Can a $2.3 mln whale buy drive HYPE to $50?
A whale deposited $5 million on Hyperliquid and purchased 59.2k HYPE worth $2.3 million.

AMB Crypto 2026-04-10 13:00
World Liberty Financial says, ‘We are nowhere near liquidation’ – But fears remain
WLFI said that it will float a proposal to begin 'phased' token unlocks for early investors.

AMB Crypto 2026-04-10 12:00
XRP Eyes $17 After Massive Breakout—Is A 1,100% Surge Next?
Some XRP watchers are not waiting for a dip below $1. They are looking the other way — toward $17. Related Reading: XRP Faces No Immediate Quantum Threat As Only 0.03% Supply Seen At Risk: Analyst The Pattern Behind The Price Target Market analyst Javon Marks has mapped out a long-term bull case for XRP using a measured move — a method that takes the size of a past rally and projects the same distance from a new breakout point. His chart points to a price target of $16.39, which would represent a gain of more than 1,100% from current levels. That works out to roughly a 12x increase. The setup goes back years. According to Marks, XRP formed a large pennant pattern starting in 2017, right after the token’s first major surge. To a fairly precise degree, the measured move price target for $XRP is right under $17. This means that another increase of over 1,111% could take place in response to the huge, 2017-like pennant breakout which occurred in late 2024. pic.twitter.com/4Hj5gZJYkj — JAVON⚡️MARKS (@JavonTM1) April 8, 2026 That kind of pattern typically reflects a pause before a trend picks back up. He says XRP broke out of that pennant in late 2024, during a broader market rally that followed the US presidential election. Using the scale of the original 2017 run as a guide, Marks projects the next leg of the move could carry XRP to near $17. In other words, if history repeats itself — and that is a big if — XRP could still be in the early part of a much larger move. XRP: Debate Among Analysts Not everyone is convinced the ride up will be smooth. Some XRP followers have raised the possibility of a fake breakout before any real rally takes hold. Marks acknowledged that kind of short-term volatility is possible. Still, he stood by the overall structure, saying the current setup closely mirrors what XRP looked like in 2017 before it made its big run. At current prices, Marks argues XRP is trading at a steep discount relative to where the measured move points. That framing has attracted attention from traders who follow chart-based analysis closely. XRP has been sending mixed signals this week. The token climbed to around $1.39 after news of an Iran ceasefire, then pulled back to roughly $1.32 — a drop of about 3.3% in 24 hours. Related Reading: Bessent Presses Congress On Crypto Rules As Senate Clock Ticks Down Other Bullish Voices In The Mix Marks is not alone in making a high-target call, though the numbers vary widely. Analyst CG has pointed to a two-year Elliott Wave count, with Wave 3 potentially driving XRP toward $24. Separately, another market commentator said XRP may be approaching a fresh all-time high after breaking out of a resistance-support triangle. At the same time, some analysts have held onto the view that a drop below $1 remains on the table before any major move higher. That split shows just how divided the XRP crowd remains heading into what could be a defining stretch for the token. Featured image from Unsplash, chart from TradingView

NewsBTC 2026-04-10 11:00
Is Zcash set for $500 as ZEC surges 56% on rising demand?
Bitcoin has sustained its price above $71,000, while Ether is trading at $2,200 once again as the broader crypto market has stabilised. However, ZEC, the native coin of the privacy blockchain Zcash, is outperforming the other major cryptocurrencies. ZEC is up 56% in the last seven days, making it the best performer among the top 20 cryptocurrencies by market cap. Its rally is largely driven by growing retail demand. If the demand increases, ZEC could extend its rally towards the $500 psychological level over the coming hours or days. Zcash sees sustained retail demand ZEC is up by 17% in the last 24 hours, outperforming Bitcoin and other major cryptocurrencies in the process. Zcash’s rally comes as retail interest in the coin continued to grow over the last few days, driving futures Open Interest (OI) to $790 million on Friday, up from $689 million the previous day. If demand continues to expand, Zcash will likely resume its uptrend, targeting a breakout above $400 for the first time since late January. ZEC’s price briefly hit the $400 mark late on Thursday but has slightly retraced and is now trading at $371 per coin. The retail interest in ZEC continues to push other metrics higher. CoinGlass’s futures Open Interest (OI) weighted funding rate has flipped positive and now reads 0.0064%. With the outlook improving, ZEC’s price could record further gains over the next few hours and days. Technical outlook: Zcash eyes $500 psychological level The ZEC/USD 4-hour chart is bullish and efficient as ZEC has outperformed other major cryptocurrencies since the start of the week. Currently, ZEC is trading above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between roughly $256 and $280. The break and subsequent rally above these resistance lines reinforce a constructive structural backdrop, adding confluence to the bullish narrative. The Relative Strength Index (RSI) at about 79 on the 4-hour chart shows a strong and overbought condition. At the same time, the Moving Average Convergence Divergence (MACD) indicator remains firmly positive on the same chart, suggesting that bullish pressure remains dominant despite the recent overextended surge. If the bears gain control, ZEC would likely face an initial support at the recent price pivot around $342, where any shallow pullback could attempt to stabilise. A break below that level could see the bulls forced to defend the Thursday low of $310 over the coming hours or days. The 100-day EMA near $280 down to the 200-day EMA around $275, with the 50-day EMA lower at $256, all offer additional dynamic floors. It is highly unlikely that ZEC loses this broader band of support in the near term as doing so would expose the broken downward trendline area near $207 as the next major support region. However, if the rally persists and ZEC breaks out above the $400 resistance, it would target the $450 January 15 high of $450. An extended rally would allow ZEC to hit the $500 psychological level for the first time since January 6. The post Is Zcash set for $500 as ZEC surges 56% on rising demand? appeared first on Invezz

Invezz 2026-04-10 10:09
Tron Inc. boosts TRX holdings to 690M, but will more whales and institutions follow?
Institutional accumulation and whale activity continue to be key.

AMB Crypto 2026-04-10 10:00
Treasuries and yield funds – Is this the next phase of tokenization?
RWAs are at the center of crypto expansion.

AMB Crypto 2026-04-10 08:00
Bessent Presses Congress On Crypto Rules As Senate Clock Ticks Down
A dispute over stablecoin rewards — not sweeping disagreements about crypto itself — is what’s holding up one of the most significant digital asset bills in US history. Related Reading: XRP Faces No Immediate Quantum Threat As Only 0.03% Supply Seen At Risk: Analyst Banks And Crypto Firms Clash Over Stablecoin Yields At the center of the standoff is a narrow but contentious question: should third-party firms like Coinbase be allowed to pass stablecoin yields on to their customers? Banks say no, warning it could drain deposits from traditional financial institutions. Crypto companies say yes, arguing it’s essential to staying competitive. That single point of friction has stalled the CLARITY Act in the Senate for months, even as the Trump administration pushes hard for a vote. Treasury Secretary Scott Bessent went public Tuesday with a blunt message — Congress needs to move now, before Senate floor time runs out. According to reports, Bessent described the situation as urgent, saying “time is scarce, and now is the time to act.” He framed the legislation not just as a financial policy matter but as a national security concern, arguing that economic security and national security are one and the same. The U.S. Treasury Secretary is weighing in on the push to pass crypto market structure legislation in a new @WSJ op-ed.@SecScottBessent framed it as a national priority, saying “economic security is national security,” and argued the Clarity Act is the cornerstone to bringing… — Eleanor Terrett (@EleanorTerrett) April 9, 2026 Adoption Numbers Add Weight To The Push The case for urgency isn’t just political. Data shows that roughly one in six Americans already holds some form of digital asset. Major banks and financial institutions have either launched crypto-related products or applied to do so. Blockchain technology, according to Bessent, has worked its way into payments, settlements, and the trading of real-world assets at a scale that regulators can no longer ignore. The global crypto market swung between $2 trillion and $3 trillion in value over the past year alone — a range that reflects both the size and the volatility of the industry. That backdrop gives the push for a regulatory framework added weight, especially as traditional finance continues to wade deeper into the space. Senator Cynthia Lummis joined Bessent’s call, saying the conditions for passing the CLARITY Act are as good as they’ve ever been. “We have the administration, the momentum, and we’ve made bipartisan progress,” she said. A Senate markup of the bill is expected sometime in April, though similar deadlines have slipped before. Related Reading: Bitcoin Faces Quantum Risk As Bernstein Sees 3–5 Year Window For Upgrades White House Study Adds Fuel To Banking Debate A White House analysis recently found that the risk of deposit flight from allowing stablecoin rewards is, by its own description, “quantitatively small.” Under the GENIUS Act framework, stablecoin issuers are barred from paying yields directly. The CLARITY Act, however, would open the door for third-party distributors to do it instead. Some banking members pushed back on the White House findings, arguing the analysis overlooked key funding risks beyond deposit levels. Featured image from Getty Images, chart from TradingView

NewsBTC 2026-04-10 07:00
Solana price consolidates in KEY range: Could SOL fall under $50?
SOL traders could be mistaken in thinking that the current consolidation will end well for the bulls.

AMB Crypto 2026-04-10 04:00
Altcoin Season Index Surges to 35, Signaling Crucial Market Shift for Investors
BitcoinWorld Altcoin Season Index Surges to 35, Signaling Crucial Market Shift for Investors Global cryptocurrency markets are witnessing a pivotal shift as CoinMarketCap’s crucial Altcoin Season Index climbs to 35, marking a one-point increase from the previous day and sparking intense analysis among traders and investors worldwide. This metric, a key barometer for market sentiment, suggests a gradual rotation of capital that could precede significant volatility across digital asset portfolios. Consequently, understanding this index’s movement provides essential context for navigating the complex 2025 crypto landscape. Understanding the Altcoin Season Index and Its Rise to 35 CoinMarketCap’s Altcoin Season Index serves as a definitive gauge for market cycles. The platform calculates this figure by comparing the performance of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, against Bitcoin over a rolling 90-day period. A score closer to 100 indicates a stronger altcoin season, which is officially declared when 75% of these assets outperform Bitcoin. The recent move to 35, while still below the threshold, represents a meaningful uptick that analysts scrutinize for early trend signals. This index functions as a critical risk-on indicator within digital asset markets. When the index rises, it often reflects growing investor appetite for assets beyond Bitcoin, typically in search of higher returns. Historically, sustained movements above 50 have frequently led to the official declaration of an altcoin season. Therefore, the current level warrants close observation for its potential predictive power. Historical Context and Market Cycle Analysis Examining past data reveals clear patterns associated with the Altcoin Season Index. For instance, the last major altcoin season occurred in early 2021, when the index sustained readings above 75 for several months. During that period, numerous alternative cryptocurrencies delivered exponential returns compared to Bitcoin. Currently, the index’s ascent from lower levels mirrors early-stage movements seen in previous cycles, though experts caution against direct historical comparisons due to the market’s maturation. The cryptocurrency market operates in distinct phases, often characterized by Bitcoin dominance cycles followed by altcoin rallies. The 90-day measurement window of the index is designed to filter out short-term noise and identify sustained trends. A move from 34 to 35 may seem minor, but in the context of a consolidating market, it can represent the first sign of changing capital flows. Market analysts cross-reference this data with other metrics like trading volume and funding rates for confirmation. Expert Insights on the Current Metric Movement Financial analysts emphasize the importance of the index’s trajectory rather than its absolute value. A consistent upward trend, even from a low base, can signal accumulating momentum. According to data from previous cycles, the path from a reading of 35 to the threshold of 75 can vary significantly in duration, sometimes taking weeks or months. This variability depends heavily on broader macroeconomic conditions and institutional adoption trends, which are particularly relevant in 2025. Furthermore, the composition of the top 100 assets is dynamic. New projects entering this cohort can disproportionately influence the index if they exhibit strong performance. Consequently, the rise to 35 may reflect strength in specific sectors like decentralized finance (DeFi) or layer-1 protocols rather than a broad-based rally. This nuance is crucial for investors making sector-specific allocations. Implications for Cryptocurrency Investment Strategies The rising index directly impacts portfolio management decisions. A higher Altcoin Season Index reading suggests a potential environment where diversification beyond Bitcoin could be rewarded. However, seasoned investors often use this metric as one input among many, combining it with fundamental and on-chain analysis. The current level advises cautious optimism rather than aggressive reallocation. Key considerations for investors include: Risk Assessment: Altcoins typically carry higher volatility and risk than Bitcoin. Portfolio Rebalancing: Some strategies involve gradual shifts as the index trends upward. Sector Rotation: Identifying which blockchain sectors are driving the index increase. Time Horizon: The 90-day window aligns with medium-term investment outlooks. Additionally, the index offers a quantitative framework for discussing market sentiment, moving beyond anecdotal evidence. It provides a shared reference point for the entire market, from retail traders to institutional analysts. The Role of Bitcoin Dominance in the Equation Bitcoin dominance, representing Bitcoin’s share of the total cryptocurrency market capitalization, maintains an inverse relationship with the Altcoin Season Index. As the index rises, Bitcoin dominance typically falls, indicating capital flowing into alternative assets. Monitoring both metrics together offers a more complete market picture. Currently, a stable or slightly declining Bitcoin dominance would corroborate the narrative suggested by the index’s rise to 35. This dynamic is fundamental to market cycle theory. Periods of Bitcoin strength often consolidate gains and attract new institutional capital. Subsequently, this capital seeks higher growth opportunities, fueling altcoin rallies. The index acts as a thermometer for this second phase. Its current reading suggests the market may be in a transitional state between these two phases. Technical and On-Chain Data Corroboration Beyond price-based metrics, on-chain data provides essential context. Analysts examine exchange flows, wallet activity, and network growth for altcoins within the top 100. For example, increasing active addresses or rising staking participation on certain networks can be a fundamental driver behind their outperformance. This on-chain strength, if broad-based, would support a continued rise in the Altcoin Season Index. Similarly, technical analysis on major altcoin/Bitcoin trading pairs can show strengthening momentum, aligning with the index’s message. Convergence across different data types—price, on-chain, and technical—strengthens the signal. The single-point index increase is more significant if accompanied by positive shifts in these underlying fundamentals. Conclusion The Altcoin Season Index’s rise to 35 marks a notable development in cryptocurrency market structure. While not yet signaling a full altcoin season, this movement indicates shifting dynamics that demand investor attention. This metric, rooted in a clear 90-day performance comparison, provides an objective framework for assessing market rotation. As the digital asset landscape evolves in 2025, tools like the Altcoin Season Index remain vital for navigating its inherent volatility and identifying emerging trends before they become mainstream narratives. FAQs Q1: What exactly does an Altcoin Season Index of 35 mean? An index reading of 35 means that 35% of the top 100 cryptocurrencies (excluding stablecoins) have outperformed Bitcoin over the past 90 days. It is moving closer to, but remains below, the 75% threshold required to declare an official “altcoin season.” Q2: Who creates the Altcoin Season Index and how is it calculated? CoinMarketCap calculates the index. The methodology compares the 90-day performance of each of the top 100 cryptocurrencies by market cap against Bitcoin’s performance over the same period. The percentage that outperforms forms the index score. Q3: Is a rising index always a positive sign for altcoin prices? Not necessarily. A rising index indicates relative strength compared to Bitcoin, but absolute prices could still fall if the entire market declines. It signals rotation and relative performance, not guaranteed positive returns. Q4: How often does the Altcoin Season Index update? The index updates daily, reflecting the latest 90-day rolling performance data. This allows investors to track incremental changes in market momentum. Q5: What other indicators should I watch alongside this index? Investors should monitor Bitcoin dominance, total cryptocurrency market capitalization, sector-specific performance, trading volumes, and relevant on-chain data metrics to form a comprehensive market view alongside the Altcoin Season Index. This post Altcoin Season Index Surges to 35, Signaling Crucial Market Shift for Investors first appeared on BitcoinWorld .

Bitcoin World 2026-04-10 03:45
Crypto trading volumes down 48%, but Binance still dominates – Report
Traders preferred perps, which offer the potential to amplify gains, to just betting purely on the Spot market.

AMB Crypto 2026-04-10 02:00
Bitcoin, XRP, And DOGE In Focus: Expert Points To Key Price Reversal In Crypto Market
Crypto markets are showing early signs that the worst may be over, following a prolonged decline that began with the industry’s sharp sell-off back in October of last year. In a new report shared on social media, technical analyst Ali Martinez says the market is now starting to form what he calls a structural floor. Next Cycle Setup For Crypto Leaders Martinez’s view is rooted in the idea that seven months of heavy volatility may also be creating a rare opportunity. For those focused on the longer-term picture, he argues, the current turbulence can act as a reset period before the next multi-year cycle. Rather than treating the current sell-off as purely negative, Martinez suggests it may be setting up the conditions for a new upward phase once the market stops bleeding. Related Reading: Adam Back Denies Being Bitcoin Creator In Response To NYT: ‘I Am Not Satoshi’ When looking at the “big picture” for broader crypto market structure, Martinez points to a metric he says helps define the floor: the CVDD Channel, which stands for Cumulative Value Days Destroyed. According to his analysis, Bitcoin’s “Golden Zone” is currently near $49,330. He claims that historically, entries into this area have tended to show up before bull market runs, and he outlines upside targets for what could follow—potentially reaching $178,478, and in an even more extended scenario, $273,158. The analyst then turns to Ethereum (ETH). Martinez says he is watching whether ETH is moving within a parallel channel pattern, and if that interpretation holds, he believes the zone between current levels and $1,070 could offer a high-conviction entry point. From there, he highlights an ecosystem-wide rally scenario with a macro target around $8,670 as the next major objective, framing it as a move that would emerge as the broader crypto ecosystem matures. Outlook For XRP, SOL, And DOGE For XRP, Martinez focuses on a specific support level as the key to determining whether the crypto market can stabilize. He says that if XRP can hold support near $0.80, it could create a strong “buy the dip” setup, potentially giving traders a chance before a later retest of XRP’s all-time high near $3.30 and beyond. Solana (SOL) is next, and Martinez suggests SOL may need a broader “generational” reset to complete the bottoming process. He argues that the possible low area ranges from $74 to $50, describing that band as a total reset of speculative “froth.” Martinez characterizes that kind of clearance as a major launchpad for the next upward move, implying that the more aggressive the washout, the more room there may be for the following leg higher. Related Reading: JPMorgan CEO Says Bank Must Build Its Own Blockchain To Counter Crypto Threats Finally, Martinez discusses Dogecoin (DOGE) using what he calls fractal signals. He says the memecoin’s chart structure indicates a coiling phase that often appears before the next parabolic move. In that context, Martinez points to a zone he believes is where larger, more informed buyers could begin accumulating. His range for that buildup is between $0.090 and $0.060, which he describes as the area where accumulation could start to intensify ahead of a potential upside surge. Featured image from OpenArt, chart from TradingView.com

NewsBTC 2026-04-09 23:03

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