Why ADA had a dip in the last few hours

🔻 1. Bitcoin Dominance Rising

• Bitcoin dominance has been climbing, meaning capital is flowing out of altcoins like ADA and into BTC.

• This usually causes most altcoins to dip even if BTC holds steady or rises slightly.

📉 2. Break Below Key Support

• ADA briefly broke below the $0.86 support, triggering stop-loss orders and selling pressure.

• This technical break likely sparked short-term traders to exit positions.

😟 3. Weak Altcoin Sentiment

• Across the board, altcoins are underperforming today.

• No strong news from Cardano, while other blockchains (like Ethereum L2s) are dominating headlines.

🔄 4. Consolidation After Rejection

• ADA was recently rejected around $0.93, and this could be part of a natural pullback or consolidation cycle before the next move.

🧠 Summary

• This drop doesn’t seem to be Cardano-specific (no major FUD or negative news).

• Rather, it's part of a broader altcoin cool-off, with some technical selling pressure around key price zones.

  
  
  
  

  

  
  

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