While Bitcoin traders anxiously await Federal Reserve Chair Jerome Powell‘s testimony on Capitol Hill, Cardano’s ADA has decided to chart its own path with a stunning 15% rally over the past week. Currently trading at $0.78, ADA has surged dramatically from its February 3rd price of $0.05, with Grayscale’s spot ETF application adding fuel to the upward momentum.
The technical picture for ADA looks surprisingly robust. A 2020-era fractal suggests a potential 350% price surge, with analysts eyeing a $3 target by the end of 2025. That’s quite the ambitious goal, considering ADA still sits 75% below its all-time high of $3.09. The growing adoption of Layer 2 solutions has significantly improved ADA’s scalability and transaction speeds. The market capitalization calculation shows ADA’s total value has grown substantially with its rising price and current circulating supply.
But here’s the kicker: veteran trader Peter Brandt believes Cardano has finally bottomed out and is ready for what he calls a “grand bull market.” The double-bottom base formed over the past year certainly supports this view.
Meanwhile, Bitcoin remains stuck in a rather uninspiring trading range. Traders are parsing through economic data like kids searching for hidden vegetables in their pasta. The market’s currently pricing in 50 basis points of rate cuts by the end of 2026 – not exactly the aggressive easing some had hoped for.
Bitcoin’s sideways shuffle continues as traders desperately dig through economic data, hoping to uncover signs of future rate cuts.
Adding to the mix, market-implied inflation rates are at their highest since early 2023, and Trump’s proposed tariffs aren’t exactly helping the inflation outlook.
All eyes are now on Powell’s upcoming Capitol Hill testimony, though expectations for any market-moving revelations are about as low as a limbo stick at closing time. The Fed chair is expected to maintain his data-dependent stance, showing about as much rush to cut rates as a sloth crossing the street.
With the CME FedWatch tool showing diminished expectations for rate cuts and Powell likely to emphasize the need for more progress on inflation, Bitcoin traders might need to pack their patience. But hey, at least ADA holders have something to smile about.
