According to CoinDesk, Bitcoin and Ethereum prices have been trading in a narrow range, with technical indicators suggesting a potential price movement of up to 40%. The Bittensor ecosystem has recently undergone significant changes, as its main developer, Covenant AI, announced its departure and accused the network of failing to deliver on its decentralization promises, causing the TAO token to drop more than 12% since midnight. Meanwhile, the privacy coin DASH has stood out with a 34% gain over the past 24 hours. The market is closely watching the U.S. March Consumer Price Index (CPI) data, expected to show a year-over-year increase of 3.3%, which could pressure risk assets like Bitcoin. Open interest in Bitcoin futures has risen by 1%, while funding rates have hit their highest level since February, indicating strengthened bullish sentiment among investors.
Bitcoin Approaches Key Volatility Node; Bittensor Developer Exit Triggers Ecosystem Shock
TechFlowShare
Summary
Market volatility remains elevated as Bitcoin approaches a key volatility node, with technical indicators suggesting potential price swings of up to 40%. Bittensor’s ecosystem faced a setback after Covenant AI, a core developer, announced its departure, citing unfulfilled decentralization objectives. This triggered a 12% decline in TAO since midnight. DASH surged 34% in 24 hours, outperforming most other assets. The market is now focused on the U.S. March CPI data, expected at 3.3% year-over-year, which could exert downward pressure on Bitcoin. Futures open interest increased by 1%, while funding rates reached a two-month high, indicating strengthened bullish positioning.
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