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#FearAndGreedIndex Bittensor (TAO) just plummeted sharply by 27% in less than 12 hours. Market capitalization vaporized nearly $900 million in the blink of an eye.
Over $9 million in long positions have been liquidated as the price dropped sharply.
👉 Because Covenant AI just left the ecosystem. They are said to have sold 37,000 TAO, worth over $10 million.
Drama is intensifying. Covenant AI accuses Bittensor's founder of running a “decentralized play” and manipulating the protocol.
Short when TAO ~ 270-280
Stop-loss around 285-295
(personal opinion)