Cardano's ADA has surged 16% in the past 24 hours, driven by market-wide increases, renewed interest in decentralized finance, and growing appeal to retail investors.

Bitcoin has traders eyeing $100,000 in the near term due to recent highs and the Federal Reserve's rate cut. Significant inflows into bitcoin ETFs signaled bullish market sentiment.

Despite this, post-election market adjustments and policy uncertainties may lead to short-term pullbacks.

Current Trends

• Cardano's ADA rose above 42 cents, reaching levels last seen in late July.
• Recent price growth is fueled by both a market rally and intensified interest in decentralized finance (DeFi).
• Traders remain optimistic about Bitcoin's potential to reach $100,000 due to recent highs, driven by the Fed's interest rate cut on Thursday.

Market Dynamics

The Fed cut interest rates by 25 basis points, typically benefiting risk assets like Bitcoin by increasing liquidity.

Fed Chair Jerome Powell noted that the election results would not influence central bank policy in the near term, alleviating concerns of aggressive actions.

Traders are enthusiastic about Bitcoin's outlook. Investment analyst Min Jung shared insights: ‘100k will be the next major level of interest due to its symbolic nature.’ He further speculated that the U.S. might add Bitcoin to its balance sheet under a 'strategic Bitcoin reserve.'

Alex Kuptsikevich from FxPro echoed this sentiment, stating, 'The first cryptocurrency rallied sharply post-election...'

While some traders caution against short-term pullbacks, the general outlook remains positive as markets begin to consider economic factors such as tariffs and rising national debt.