It is not entirely surprising to see all of the major cryptocurrency markets lose a ton of value right now. Ever since Bitcoin decided to turn bearish for no apparent reason, the overall momentum has been rather troublesome. Some markets are dealing with a lot more pressure compared to others. The Cardano price, for example, is bleeding value left, right, and center at this time.
It is safe to say none of the alternative markets will see any real positive momentum unless Bitcoin picks up the pace in a significant manner. For the time being, it seems unlikely that will happen in the near future, primarily because there is nothing to warrant an effective uptrend. In the case of Cardano, its close-knit reliance on Bitcoin is causing a lot of problems over the past 24 hours.
More specifically, the Cardano price has dropped by over 13% in the past 24 hours. Because of this major setback, the USD value per ADA has now hit $0.042872. There is also a 5.4% decline in ADA/BTC, pushing the value down to 1,122 Satoshi. While a dip to 1,000 Satoshi will not necessarily become a problem this week, the pressure may not necessarily relent either. An ongoing decrease in ADA trading volume also doesn’t appear to bode well.