Altcoins may have driven the crypto-market over the past few months. However, Bitcoin was again in the driver’s seat this week after the world’s largest cryptocurrency hikes considerably, going on to break all its immediate resistance levels. The effect on the rest of the market was instant, with the likes of Cardano gaining exponentially. However, that wasn’t the universal case.
Cardano, alongside the likes of Chainlink and Crypto.com Coin, has been one of the market’s best-performing cryptos, with ADA noting YTD gains of 321%, at the time of writing. It must be noted, however, that the latest appreciation driven by Bitcoin’s pump came on the back of a period of sideways movement on Cardano’s charts.
In fact, ADA climbed by 21% over the last 7 days, despite signs of corrections reflected by the last candle on the charts.
While the placement of the Parabolic SAR’s dotted markers underlined how bullish the market is, the Chaikin Money Flow continued to dip on the charts, suggesting that capital outflows were gaining.
Cardano was in the news