ADA is one of the poorest large-cap altcoins.
After several days of notable gains, the price of #bitcoin finally retreated, falling to $58,000 this morning. Altcoin is also down on a daily basis, with its market capitalization down by more than $60 billion.
Last Friday, the bitcoin price fell below $53,000, and the bulls took control for the next 10 days. During that time, it #rose to $58,000 last Monday, fell to $55,500 after the release of the U. S. Consumer Price Index on Wednesday, but then went on the offensive again, culminating on Friday and Saturday morning.
In particular, on Friday night #BTC finally broke above $6,000 and reached a multi-week peak around $60,600. It calmed down over the weekend, but remained near the $60,000 level.
On Monday, however, prices began to collapse, causing them to fall by about $2,000. As a result, BTC fell to $58,100 today, but has recovered most of its losses so far and is trading just above $59,000. This week promises to be an important one for all financial markets as the US Federal Reserve meets on Wednesday and Thursday and is expected to cut key interest rates.
The market value of bitcoin fell to USD 1,165 billion, but its dominance over #altcoins increased to 54.3% in CU.
the majority of altcoins moved the same way as BTC the day before, i. e. in the negative. Ethereum fell more than 3% and is now at $2,330; SOL, DOGE, LINK and BCH showed similar declines, while XRP, TON, AVAX and SHIB fell about 2%.
The native token Cardano fell almost 5% to $0.33. In contrast, TRX rose slightly by 1.5% and SUI jumped by 5.5%, defying the general market sentiment. Thus, it is now trading above the $ 1.1 mark.
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