Cardano (ADA) and Ethereum (ETH) Drive Market Rally as Bitcoin Shows Signs of Independence from Traditional Markets
Cardano’s ADA and Ethereum’s Ether (ETH) have led a significant rally in the cryptocurrency market, each surging over 14% within 24 hours. This uptick followed Bitcoin (BTC) surpassing $93,500, buoyed by President Donald Trump’s announcement of substantial tariff reductions on Chinese imports. While this policy shift provided immediate relief to investors, it also introduced concerns regarding the administration’s policy consistency.
The broader crypto market mirrored this positive momentum: Bitcoin climbed 6.5%, Solana (SOL), XRP, and Binance Coin (BNB) each gained 8%, and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) rose over 11%. Notably, Sui Network’s SUI token led mid-cap gains with a 30% increase. Overall, the total cryptocurrency market capitalization expanded by 4.4% to reach $3.03 trillion, with the CoinDesk 20 Index advancing 5%.
Analysts suggest that Bitcoin is exhibiting signs of decoupling from traditional equity markets, reinforcing its narrative as a “digital gold” and a store of value. This perspective is supported by Bitcoin’s resilience amid fluctuating U.S. equity markets and its performance during both positive and negative news cycles related to tariff policies. Additionally, the concurrent rise in gold prices and U.S. Treasury yields indicates a shift in investor sentiment towards alternative safe-haven assets.
The timing of these market movements, particularly during Asian trading hours, suggests increased activity from central banks and institutional investors reallocating assets from the U.S. dollar to cryptocurrencies and gold. This trend underscores Bitcoin’s evolving role in the global financial landscape as a hedge against traditional market volatility.
