$ADA This week, Cardano ($ADA) has been a battleground of positive long-term news versus short-term market pressures.

On the bullish side, Bloomberg analysts are now giving a 75% chance of a Grayscale ADA ETF approval in 2025, crucially noting the SEC likely views ADA as a commodity, not a security. This, coupled with ADA's inclusion in Nasdaq's expanded crypto index, signals growing institutional acceptance and visibility. Social activity remains robust, indicating a strong community.

However, the price has seen a 7%+ decline due to broader market weakness and significant whale offloading of over 270 million ADA. Technical patterns like a potential "head and shoulders" suggest further downside if key support levels around $0.60-$0.62 aren't held. A debated $100 million treasury proposal also added to volatility.

ADA sits at a critical juncture, balancing promising regulatory clarity and institutional inroads with immediate selling pressure.