The native token of layer-1 smart contract platform Cardano">Cardano (ADA) rallied over 20% to around $0.57, its highest since August 2022, as capital rotated out of stagnating Bitcoin">Bitcoin into altcoins">altcoins. ADA led gains that saw double-digit upside from other majors like DOT, ALGO, AVAX, and SOL.
Meanwhile, Bitcoin trended sideways between $43k and $44k after a steep climb this week, as analysts eyed the potential for a short-term pullback. Crypto commentator Willy Woo floated $39k-$41k as a target zone to fill an open gap in CME futures left when BTC surged above $40k over the weekend. About 93% of CME gaps ultimately get filled according to Woo.
Still, experts remain long-term bullish on Bitcoin based on growing institutional investment interest. Hany Rashwan of 21.co cited underappreciated inflows ahead if the U.S. approves a spot Bitcoin ETF. He sees new highs eventually, just not immediately.
For now, as the crypto market leader trades sideways, rotating altcoin gains led by Cardano could persist. But any renewed Bitcoin breakdown or surge would likely shift momentum and dictate direction across digital assets.
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