Cardano (ADA) Falls 9% As Crypto Suffers Another Red Day: Market Watch

The cryptocurrency market went through another day in the red, losing around $12 billion of its total capitalization. This comes as Bitcoin struggles to hold its price above $19,000, while major altcoins are falling.

The general sentiment is also very gloomy, with indicators flashing signs of extreme fear for a few days in a row.

Bitcoin Price Battles at $19,000

The BTC price is currently trading right around $19,000 and it is struggling to stay above it.

The cryptocurrency is down 0.6% over the past 24 hours, but a much steeper 5.8% over the past seven days, highlighting the uncertain state of the entire market.

BTC failed to produce any kind of significant movement in the last day and this particular stagnation that tends to lean towards the downside is a very specific sign of the bear market. However, Bitcoin’s dominance – the metric that tracks its share of the entire market – is up 0.5% in the last 24 hours, which is a noticeable change.

This means that altcoins have lost ground during this period.

Cardano (ADA) falls 9%

Cardano is down a little less than 9% as of this writing. Most of the altcoins are painted in red, and XRP is also showing a significant loss of around 7%.

Other major cryptocurrencies, such as Solana, Dogecoin, Polkadot, and so on, are down around 5%. The worst performer of the day is Klaytn’s KLAY token, down 14%, followed by LDO, down 10.6%.

On the other hand, the cryptocurrency that has gained the most is Huobi Token (HT), up over 9% in the last 24 hours.

The broader market sentiment remains overly negative and in a state of “extreme fear.”

This prevailing fearful mood continues for a few days straight, and while it hasn’t gotten worse, the fact that it isn’t getting better is also a clear sign of the ongoing crypto winter.