ADA has lost 7% of its value in the last seven days.
The coin could record further losses as the market remains bearish.
ADA sheds 35% in November
ADA, the native coin of the Cardano blockchain, is up by less than 1% on Tuesday after recovering from the 6% dip on Monday. The bearish performance occurred as the Cardano derivatives market saw a decline in traders’ interest.
According to CoinGlass, ADA futures Open Interest (OI) dropped 6.82% over the last 24 hours to $693 million. This decline suggests that investors are adopting a risk-off approach to the market.
Furthermore, the OI-weighted funding rate stands at -0.0057% suggesting increased confidence among bearish-aligned traders. Due to the current market conditions, the long-to-short ratio stands at 0.8765, with short positions building to 53.29% of all derivatives contracts over the last 24 hours.
This data suggests that there is a sell-side dominance in Cardano derivatives, with traders anticipating a decline in ADA’s price in the near term.
Will ADA close below the 2025 low?
The ADA/USD daily chart is bearish and inefficient as Cardano has underperformed in recent weeks. The coin dropped below $0.40 after losing 35% of its value in November and could dip lower over the coming days and weeks.
The technical indicators are also bearish, with the daily RSI now at 28, indicating an oversold condition. The MACD lines are also within the negative territory, suggesting heavy selling pressure. If the RSI remains below 30, Cardano remains at risk of steeper corrections.
If the daily candle closes below the November 21 low of $0.3876, ADA could suffer heavy losses and retest the September 16, 2024, low of $0.3264. On the upside, if the buyers regain control and ADA stays bullish above $0.3876, it could reclaim the $0.40 resistance level in the near term.
BTC is trading below $87k, down by less than 1% in the last 24 hours.
The leading cryptocurrency could retest the $93k resistance level in the near term.
Bitcoin’s $83k support holds
Bitcoin briefly dropped below $84k on Tuesday but has bounced back and is now trading above $86k per coin. The bearish performance comes amid macroeconomic conditions due to global liquidity tightening, and confidence in crypto is also deteriorating further following the Yearn hack.
Analysts predict that Bitcoin’s price could suffer further bearish movements as we head into the last few weeks of the year. In an email to Coinjournal, Nick Forster, Founder at the onchain options platform, Derive.xyz, said that macro uncertainty continues to dominate.
A BOJ tightening and ambiguity around a U.S. Fed cut continue to negatively affect Bitcoin and the broader cryptocurrency market.
“Volatility surged in response. BTC 30-day volatility jumped from 46% to 50% in the past 24 hours, while skew collapsed from -5% to -8% before recovering slightly to -6% at the time of writing. The move reflects aggressive demand for downside protection as traders reposition for further weakness,” Forster added.
The options market shows that 15% of traders predict Bitcoin’s price will drop below $80k by the end of the year. However, 21% are still optimistic about Bitcoin ending the year above $100k.
BTC eyes the $93k resistance
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed over the past five days. The technical indicators are also bearish but could switch bullish if Bitcoin tops the $93k resistance level.
At press time, BTC is trading at $86,882 per coin. If the market recovery continues, BTC could rally towards the $93k resistance level over the next few hours or days.
The 4-hour RSI of 40 shows a fading bearish trend as Bitcoin is no longer in the oversold area.
On the flipside, if the bears regain strength, Bitcoin could retest the $80k low created on November 21.
The leading altcoins could record further losses amid renewed bearish momentum.
The cryptocurrency market is starting another month bearish after the poor performance recorded by Ether and other major coins in November. Ether recorded a temporary relief last week, hitting the $3k psychological level.
However, the recent gains have been wiped out, with Ether now trading around $2,800 after losing 5.5% of its value in the last 24 hours. The negative performance saw over $140 billion wiped out from the crypto market during that period, with the total market cap now below $3 trillion.
Furthermore, the bearish performance saw over $500 million worth of leveraged positions liquidated in the last 24 hours, with Binance, Bybit, and Hyperliquid accounting for 90% of the total liquidations.
Ether and other major cryptocurrencies could face further selling pressure in the near term. However, with the Fed’s FOMC meeting slated for next week, Ether and other leading cryptocurrencies could experience a temporary relief if the Federal Reserve cuts its benchmark interest rate for the third time this year.
Ether could retest the $2,600 low.
The ETH/USD daily chart is bearish and efficient as Ether has underperformed in recent days. The coin has lost 5.5% of its value since Sunday and is now trading around the $2,840 region.
If the ETH/USD daily candle closes below the November 21 low of $2,623, the bears could push the price lower over the next few hours or days, with the next major support around the June 22 low of $2,111.
The technical indicators remain bearish, with the RSI of 34 suggesting that sellers are in control. The MACD also risks a cross below the signal line, indicating Ethereum is still bearish.
However, if the bulls recover from the recent selloff, Ether could challenge the trend and push towards the $3k psychological level once again.
BTC dropped below $86k on Monday mainly due to macro pressures.
The leading cryptocurrency could retest the $80k low if the bearish trend persists.
BTC dips below $86k
Bitcoin, the leading cryptocurrency by market cap, is off to a bearish start in December, as it has lost over 5% of its value in the last 24 hours. At press time, Bitcoin is trading above $86k after temporarily dropping to the $85k region earlier today.
The bearish performance has affected altcoins too, with Ether trading below $2,800, while XRP is hanging on above $2.0
The recent selloff comes after the Bank of Japan (BoJ) Governor Kazuo Ueda revealed that possible interest rate hikes could be considered if the economy continues to evolve as predicted. The interest rate hike could increase borrowing costs and negatively affect carry trades.
In addition to that, the hacking of the Yearn Finance protocol a few hours ago contributed to the renewed pressure on Bitcoin and the broader cryptocurrency market. Thanks to the latest selloff, over $140 billion was wiped out from the crypto market in the last 24 hours, with $500 million worth of leveraged positions also liquidated.
JUST IN: $140,000,000,000 wiped out from the crypto market cap in the past 4 hours. pic.twitter.com/c32OHlyafS
The BTC/USD daily chart remains bearish and efficient as Bitcoin lost 5% of its value in the last few hours. The leading cryptocurrency is trading above $86k, as the daily, weekly, and monthly candles all confirm a bearish bias.
The RSI on the daily chart reads 32, pivoting downside towards the oversold after the brief recovery recorded last week. If the daily RSI remains below 30, Bitcoin could face further downward movement in the near term.
Additionally, the Moving Average Convergence Divergence (MACD) has shifted to a bearish momentum, with the sell signal shown a few hours ago.
If the selloff continues, the bears will look to target the $80,600 support in the near term. Failure to defend this level could see Bitcoin revisit the April 7 low of $74,508.
However, if the bulls recover, Bitcoin could rebound to $90,000 over the next few hours or days.
BAT coin price jumps 20% in 24h, driven by Brave browser user growth.
On-chain activity spikes 72%, boosting BAT coin demand and utility.
Technical breakout from descending channel signals further bullish momentum.
Basic Attention Token has emerged as one of the standout performers in the cryptocurrency market today.
The Basic Attention Token price has surged 20% past $0.27, adding to its 60% growth during the past week.
This price surge places BAT coin well ahead of broader altcoin recovery trends and highlights the growing impact of the Brave Browser ecosystem on the token’s utility.
Brave Browser milestone fuels BAT price rally
The rally in BAT coin price is closely tied to the increasing adoption of the Brave browser, which recently announced it had surpassed 101 million monthly active users.
With 42 million daily users, the platform boasts a DAU/MAU ratio of 0.42, indicating strong user engagement and retention.
Brave continues to expand its ecosystem by integrating privacy-first features such as ad-blocking, tracker prevention, storage partitioning, and a dedicated AI assistant named Leo.
The Brave Wallet also supports shielded Zcash transactions and Web3 interactions, positioning the browser as a comprehensive digital ecosystem rather than merely a privacy tool.
Furthermore, BAT plays a central role in this environment, powering the browser’s rewards system.
Users earn tokens by viewing privacy-respecting ads and can tip content creators or convert BAT into other cryptocurrencies.
The combination of increasing user numbers and high engagement has amplified on-chain activity, with a 72% surge in BAT transfers and consistent accumulation from large holders.
As a result, the BAT coin price has benefited from both the scarcity of circulating supply and the heightened demand from a rapidly expanding user base.
Trading competitions and technical signals add momentum
The price surge has been further supported by short-term trading catalysts.
Biconomy recently launched a BAT trading competition with an $8,000 prize pool, driving significant volume to the market.
Over a 24-hour period, BAT trading volume increased by more than 200%, reflecting both retail and institutional interest.
While competition-driven activity can inflate short-term trading, on-chain data suggests that much of the trading has been sustained by genuine interest from investors rather than purely speculative movements.
From a technical perspective, BAT coin has broken out of a descending channel, closing above key support levels near $0.21.
The MACD histogram turned positive, and the 7-day SMA has now flipped to provide support, signalling bullish momentum.
Traders are targeting the 161.8% Fibonacci extension at approximately $0.2896, though the RSI is nearing 74, suggesting that some consolidation may occur before further upward movement.
The key support levels to watch remain around $0.2410, reflecting a 50% retracement of November’s rally.
A social token and a privacy-focused cryptocurrency
Beyond technical and trading factors, BAT coin occupies a unique position as both a social token and a privacy-focused cryptocurrency.
The Basic Attention Token ranks as the 14th most widely distributed token on-chain, with over 437,000 holders, highlighting its broad reach.
Its integration with Brave allows users to engage in privacy-respecting digital interactions, providing a sustainable use case that extends beyond speculative trading.
The platform’s ability to handle nearly 20 billion annual searches, including AI-generated queries, demonstrates that Brave is evolving into a digital ecosystem capable of supporting significant BAT utility.
While BAT faces competition from other privacy-first browsers and must navigate regulatory changes, its combination of strong on-chain activity, expanding user base, and structural adoption trends indicates potential for sustained growth.
As the market approaches year-end volatility and trading competitions conclude, eyes are on whether the Basic Attention Token price can maintain momentum or experience consolidation.
