ADA Price Targets 75% Surge as Cardano ETF Approval Odds Hit 63%
Crypto markets buzz as Cardano’s ADA eyes a dramatic 75% price leap—fueled by surging ETF approval probabilities. Institutional interest mounts while retail traders scramble for position.
Market analysts point to the 63% ETF likelihood as a key catalyst, though skeptics warn of ’typical crypto hype cycles.’ Meanwhile, Cardano’s proof-of-stake network quietly processes transactions at 1/1000th of Bitcoin’s energy cost.
One Wall Street analyst quipped: ’Nothing boosts asset prices like the prospect of other people’s money being forced to buy it.’
$2,479 trading below $2,500. The usual weekend liquidity shortage persists, and as mentioned in Friday’s announcement, this weakness could lead to a downturn. Unfortunately, the anticipated positive surprise has not materialized.
ContentsBitcoin (BTC) PerformanceCurrent State of Cryptocurrencies
Bitcoin (BTC) Performance
Earlier in the week, TRUMP hinted at a possible phone call with China’s President Xi, which could have positively impacted cryptocurrencies, but it did not happen. Trump had used the term “probably” about this meeting, indicating uncertainty. Scheduled to meet with Putin at 17:00 tomorrow, Trump might deliver good news following their discussion.
At the time of writing, Bitcoin (BTC)
$103,311 is trading at $103,260 and has not shown significant movement over the last 24 hours. The resistance at $105,800 remains strong, and once surpassed, it could set the stage for an all-time high (ATH) journey. For now, maintaining the level above $100,700 is crucial to prevent further decline.
In the event of a sudden drop, sales could extend down to $94,000, impacting altcoins with rapid declines exceeding 30%. While bitcoin has stayed above six figures for days, which might suggest a genuine recovery, this remains to be seen.
Current State of Cryptocurrencies
The 24-hour total volume is $84 billion, marking a 25% decrease from the previous day. With the decline in BTC market dominance stabilizing, altcoins are experiencing losses of around 3%. The Fear Index is at 66, indicating a zone of greed. FORM and XCN have performed the best weekly among altcoins. Only two cryptocurrencies among the top 100 have achieved double-digit gains.
Conversely, altcoins like OP, TIA, ARB, Pi, UNO, LDO, and THETA have experienced weekly declines of over 20%. As ETH prices surged, these altcoins showed recovery, but the cessation of this rise quickly reflected in their performance.
A closing above $2,400 for ETH remains optimistic, and surpassing $2,700 could usher in a rapid upward phase for altcoins once more.
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