Bittensor's Biggest Seller Is Out – TAO Price Prediction Points to Violent Unwind

Aixbt reported the news that shook the Bittensor community today (April 11). The Covenant co‑founder (the team behind TAO's flagship subnet) sold 37,000 tokens, called the network "decentralization theatre," and walked away. No more holdings. No more loyalty.

The biggest known seller is, as aixbit reported, now out

That could be bullish. The overhang is cleared. The person with the most reason to dump is gone. But the market is still sitting on a powder keg. $400 million in open interest remains on a token with a 4.6x futures‑to‑spot volume ratio. That is extreme leverage.

Accumulation into maximum FUD

The numbers are striking. 42,000 TAO net outflows from exchanges in just seven days. Someone is buying. Not retail panic sellers. Someone with conviction is accumulating into the worst sentiment the project has ever seen. The founder who just trashed Bittensor no longer holds a single token. His selling pressure is gone.

Source: X/@aixbt_agent

The setup is binary. Either $260 holds as support, and that massive leverage unwinds violently to the upside. Shorts get squeezed. Or $260 breaks, and TAO sees $200. The overhang is cleared. The positioning is not. Markets punish extremes. This is an extreme.

TAO Price Forecast – chart analysis

We analyzed the TAO chart on CoinAnk, and token is clearly under pressure. The TAO price trades at $263.99 at the time of the chart, down 1.02% in the last candle. The recent dip pushed price from above $300 to a low near $261.81. That low tested the $260 zone multiple times.

Resistance sits at $280, then $300. Support is at $260. A break below $260 opens the door to $240, then $200.

Source: CoinAnk.com

The RSI (6,12,24) shows RSI1 at 33.49, RSI2 at 32.22, RSI3 at 36.44. All are near oversold territory but not yet below 30. Momentum is weak but not extreme.

The MACD (12,26,9) is bearish. DIF at -15.61 sits below DEA at -11.82. The histogram is negative at -7.57. No bullish divergence yet.

The long and short data shows a heavily shorted market. Net long positions are negative at -137.97K. Net short positions sit at 455.49K. Shorts outnumber longs by more than 3 to 1. If TAO holds $260 and reverses, those shorts get squeezed hard.

TAO price prediction: If $260 holds, a squeeze could push TAO to $300 within days. If $260 fails, expect a rapid drop to $220‑$200. The next 48 to 72 hours are critical.

Read also: Kaspa vs. ICP: One Wants to Rebuild the Internet – The Other Just Wants to Be Digital Cash

TAO Price: Key Levels to Watch

Overall, $260 is the line. Hold it, squeeze. Lose it, $200.