Cardano (ADA) dropped ~10% today
🔎 Why the drop?
Macro pressure: Hot US inflation broke rate-cut hopes → crypto dumps ahead of Fed minutes & Powell speech
Altcoin beta: ADA led losses as alts drop harder in risk-off moves
No ADA-specific triggers: The fall is market-wide, not ADA-specific
Derivatives: Funding turned negative → longs unwinding, shorts pressing
Technical resistance: Rejected near $0.97; slide tested $0.84 support
⚠️ What to watch next
Fed minutes & Powell’s address (Aug 22) for macro direction
Bitcoin’s stability around ~$113k—alts often follow BTC’s lead
Derivatives reset: negative funding + OI drop = capitulation risk; climb = possible short squeeze
Cardano fundamentals: keep an eye on governance votes, dev updates, treasury proposals
🛡 Bottom line
This ADA drop is macro-driven. To navigate safely, watch tunes from the Fed and BTC, stick to clear invalidation levels, and avoid overleveraging.
📷 Source: CryptoNews