skyary

Cardano price steadies at $0.28 after failing to break through the key resistance level.
Derivatives data suggest limited recovery, with ADA’s open interest at very low levels alongside negative funding rates.
Santiment data indicate mixed sentiment, with some holders accumulating, while social dominance continues to decline.
Cardano (ADA) steadies at $0.28 on Wednesday after failing to break through a key resistance zone over the weekend. Mixed signals from the derivatives and on-chain metrics suggest that ADA’s short-term outlook remains uncertain, limiting the scope for a recovery.
Cardano futures Open Interest (OI) falls to $436 million on Wednesday, having been steadily declining since mid-January and nearing the February 12 level of $407 million. This drop in OI reflects waning investor participation and projects a bearish outlook.
Cardano’s derivatives data show bearish bias
Santiment’s Supply Distribution data supports a positive outlook for Cardano, as certain whales are buying ADA at recent price dips.
In addition, Coinglass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of Cardano will slide further is higher than those anticipating a price increase. The metric turned negative on Wednesday and stands at -0.0130%, nearing the February 6 levels, when ADA dropped sharply. The negative ratio suggests that shorts are paying longs, suggesting bearish sentiment toward ADA.
Cardano supply distribution metric chart. Source: Santiment
The metric indicates that whales holding between 1 million and 10 million ADA tokens (yellow line) and 10 million and 100 million tokens (blue line) have accumulated a total of 240 million ADA tokens since February 11
Cardano Price Forecast: ADA faces rejection around the key resistance level
Santiment’s Social Dominance metric for Cardano supports a bearish outlook. The index measures the share of ADA-related discussions across the cryptocurrency media. It has been in a downward trend since the end of December, falling again in early February to 0.038% on Wednesday. This fall indicates fading market interest and weakening sentiment among ADA investors. This combination of accumulation alongside weakening sentiment suggests indecision among investors and limits the chances of a sustained recovery.
If ADA faces a correction, it could extend the losses to retest its weekly resistance at $0.24.
Cardano price was rejected at the 38.2% Fibonacci retracement level at $0.29 (drawn from the January 14 high of $0.42 to the February 6 low at $0.22) on Sunday, and it declined 4.47% that day. ADA has been hovering around the $0.28 level for the past two days and, as of Wednesday, remains there.
The Relative Strength Index (RSI) reads 44, below the neutral level of 50, indicating bearish momentum gaining traction. However, the Moving Average Convergence Divergence (MACD) showed a bullish crossover on February 13, which remains in place, suggesting that upside bias has not been invalidated yet.
However, if ADA closes above the 38.2% Fibonacci retracement level at $0.29 on a daily basis, it could extend the recovery toward the 50-day Exponential Moving Average (EMA) at $0.32.
#skyary
#grok
#xal
#btc
#Rez

Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
These days where you have a tiny little thing that shouldn't have any price impact really at all — and if it does, should be small — like, for example, October 10th, some tariff-related thing, and next thing you know, [bitcoin] is down 20%,” Mitchnick said. “That’s because you get cascading liquidations and auto-deleveraging.”
While bitcoin’s long-term value proposition as a “global, scarce, decentralized monetary asset” remains intact, Mitchnick warned that the asset’s short-term trading behavior is starting to look dangerously similar to “levered NASDAQ” — a perception that may deter conservative allocators from entering the space.
The facts are more on the side of how I characterized it,” he said, referring to bitcoin’s fundamental attributes. “But now the trading data, at least lately, looks very different, and the bar to adoption if it trades like levered NASDAQ is much, much, much higher.”
Mitchnick also pushed back on the idea that exchange-traded funds (ETFs) like IBIT are contributing to volatility, pointing instead to perpetual futures platforms as the source of instability.
There’s a misperception out there that it’s a bunch of hedge funds in ETFs that are creating volatility and selling; that’s not what we’re seeing,” he said. “On a week that was tumultuous, obviously, in the bitcoin market, we had 0.2% of the fund redeem. If there actually were hedge funds massively unwinding trades… you would have seen billions. We saw many billions liquidated on these levered platforms.”
Despite short-term turbulence, Mitchnick emphasized that BlackRock remains committed to digital assets as part of a broader financial transformation.
We see ourselves as having the role of a bridge… between traditional finance and the digital asset world,” he said. “Over time, there’s certainly going to continue to be a greater role for digital assets and this technology theme in general for many of our clients.”
Read More: Bitcoin May Evolve Into Low-Beta Equity Play Reflexively, BlackRock's Mitchnik Says
#BlacRock
#ETHETFS
#skyAry
#hottrends
#kabous