Crypto analyst Ali Martinez (@ali_charts) highlighted a significant sell-off of over 270 million ADA coins by large whale wallets within the past week, coinciding with a substantial decline in the ADA price. This dramatic drop occurred between June 12 and 13 as the price plummeted from $0.7258 to $0.6231 before showing a slight rebound. Analysts attribute this sell-off, potentially driven by profit-taking after a previous surge of 17.26% for ADA, to the broader cryptocurrency market’s response to Bitcoin’s decline of almost 4.3%. This move followed Bitcoin dropping from its $108,325 price level and now sits slightly above $105,000. Meanwhile, optimism for Cardano (ADA) is rising as Bloomberg predicts a 75% chance of approval for a spot-based ADA ETF in the coming year. This increase follows a similar prediction from earlier this week by Cardanians, an organization dedicated to promoting Cardano’s development, who believe the likelihood of the SEC approving an ADA ETF has risen to 75%. Notably, other cryptocurrencies like Litecoin, Solana, Dogecoin, and XRP are also seeing increased chance of ETF approval. Overall, these developments suggest a potential surge in interest for both ADA and its related ETFs.