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The price action of Cardano (ADA) over the past week is a story of two halves, with the token notching a new multi-month high early in the week only to crash by over 18% a few days afterward. This recent decline in ADA price reflects a broader bearish climate in the cryptocurrency market.
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Since the start of 2024, the Solana (SOL) price has not quite been able to replicate the strength with which it moved last December.
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Following a week of little price movements, Bitcoin (BTC) gained by 0.50%, maintaining its value within a consolidation range of $51,000 – $52,500.
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In an interesting turn of events, the price of Bitcoin witnessed a resurgence over the past week, with the premier cryptocurrency aiming for the $50,000 level again.
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Cardano, like the majority of the cryptocurrency market, put up a positive price performance over the past week. While the ADA token largely struggled to replicate its December run in January, the tides seem to be turning in favor of the altcoin at the moment.
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