Cardano (ADA) soared 16% over the past 24 hours, leading gains among major cryptocurrencies, fueled by a marketwide rally and renewed interest in decentralized finance.
The Federal Reserve's interest rate cut, alongside record inflows into bitcoin ETFs, has spurred bullish sentiment, pushing traders to eye a potential $100,000 target for bitcoin in the short term.
While optimism remains high following the elections, analysts predict potential short-term market pullbacks due to lingering policy uncertainties and adjustment phases post-election results.
Fed Chair Jerome Powell, addressing the recent election outcome, reassured that it would not impact the central bank's immediate policy decisions, mitigating fears of drastic changes in market conditions.
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