Cryptocurrency Update: ADA and ETH Surge as BTC Shows Signs of Decoupling—Is an Altcoin Season Approaching?

Analysts have noted that Bitcoin’s (BTC) role as a store of value is becoming more prominent, diminishing its correlation with U.S. equities. The altcoin market, led by Ethereum (ETH) and Cardano (ADA), is showing strong recovery; however, the altseason index remains quite low at 224/294. Following news that U.S. President Donald Trump plans to retain Federal Reserve chairman Jerome Powell, the overall cryptocurrency market cap rose by 11% to reach $2.9 trillion, with many leading assets hitting new monthly highs. Our market data indicates that Cardano (ADA) has surged back to $0.7, rising 10% in the last 24 hours and 16% over the past week. Boasting a market capitalization of $24 billion, the asset has established itself as the ninth-largest cryptocurrency. In this context, the daily trading volume has surged by 943%, with $1.05 billion moving in and out of the market. According to our latest blog entry, ADA has surpassed Bitcoin and Ethereum in terms of institutional investments this week. Additionally, Ethereum (ETH) has taken advantage of the overall market trend, successfully moving above the key resistance point of $1800. Over the past 24 hours, the asset has recorded an 11% increase, bringing its weekly total to a rise of 14%. Moreover, ETH’s market share has slightly risen to 7.44% following a significant drop, as noted in our last report. Numerous other altcoins such as Solana (SOL), Dogecoin (DOGE), and XRP have performed well, fueling speculation that an altseason may be imminent. At the time of this writing, the altseason index remained close to 14 out of 100. At the same time, Bitcoin’s dominance remained robust at 63.3%. A few days ago, there was significant uncertainty among investors regarding Bitcoin.