Cardano Reaches New Milestone, Then Faces Unexpected Sell-Off

Cardano (ADA) broke through the $1 barrier for the first time since March 2025 before experiencing a sudden sell-off that impacted bullish traders. The cryptocurrency reached its peak at $1.01 thanks to a rare golden cross phenomenon, fueled by market expectations of increased DeFi activity and institutional investments. This rally marked the first time in 2025 this pattern was seen, prompting optimistic speculation from traders. However, Cardano quickly succumbed to broader market pressure driven by economic data releases such as producer price index and initial jobless claims.