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Cardano is losing ground against Bitcoin, even as a bearish death cross signal is completed on the ADA/BTC daily chart.
Taken from the Oct. 13 high of 0.00000636, Cardano steadily declined against Bitcoin, reaching a low of 0.000005 on Monday. Amid the decline, a death cross appeared on the ADA/BTC chart at October's close, the second of such occurrences this year, with the first being in April.
At press time, ADA was trading down 5.86% in the last 24 hours in its dollar pairing and down 19% weekly to $0.5417.
Roughly $1.36 billion in crypto derivatives positions were liquidated, according to CoinGlass data, as selling accelerated across major exchanges.
Bitcoin is nearing its lowest price since June as the U.S. Dollar Index (DXY) rose amid speculation that the Federal Reserve might slow its rate-cutting cycle, leading to a bearish reversal in risk assets like cryptocurrencies.
The government shutdown has entered its 35th day, matching the record from 2018-2019, with Polymarket suggesting it may extend beyond mid-November.
Cardano founder reveals 2026 outlook
Cardano Founder Charles Hoskinson recently revealed where things stand at present for the Cardano network, and the outlook for 2026.
Hoskinson highlighted progress made for Leios and Bitcoin DeFi, with further advancements expected in 2026.
The Cardano founder noted that Cardano is pursuing an alternative Chainlink plan, with several other oracles in the pipeline to integrate alongside 100 other partners, thanks to Midnight.
The Cardano founder revealed interaction with Ripple USD stablecoin and others, with the next plans needing to wait for Midnight: "We met several times with RLUSD and the other stables. Given that the CF will not provide liquidity and integration, and the community has yet to approve the SWF, we'll have to wait for Midnight to integrate it and utilize the trustless Cardano bridge."
Dan Burgin
Vladislav Sopov
U.Today Editorial Team