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Sign InThe severe liquidity crisis affecting Bittensor (TAO) intensified on April 12, as cross-exchange price gaps reached a new high of 26.9%. This further widening of spreads signals escalating settlement stress and a worsening breakdown in efficient price discovery across trading venues. The data reflects a critical lack of market depth, which substantially elevates execution risks and potential slippage for all market participants. TAO is currently trading at $261, remaining below its 200-day moving average, which indicates sustained bearish pressure. Analysts warn that these deteriorating conditions typically lead to heightened price volatility and a decline in overall trading volume. Given these persistent and worsening structural liquidity challenges, the immediate outlook for the asset remains bearish.