Bitcoin Rebound Met with Cautious Sentiment

Bitcoin staged a notable 17% recovery from its recent lows, but the rally hasn’t convinced everyone. Despite steady inflows into exchange-traded funds (ETFs), the momentum has not been strong enough to trigger a decisive market breakout. Prediction markets on Kalshi reflect this cautious atmosphere, with traders pricing in bearish odds against Bitcoin reaching the $100,000 milestone in 2025.

Solana Demonstrates Resilience Amid ETF Volatility

Meanwhile, Solana has shown considerable strength, with its price stabilizing above the $135 level. The network weathered a brief period of volatility sparked by the news of 21Shares withdrawing its ETF application. Confidence in the derivatives markets was quickly restored as bullish traders with leveraged positions absorbed the selling pressure, signaling underlying support for the asset.

Cardano Confronts a $40 Million Resistance Barrier

In the Cardano ecosystem, the price of ADA settled just above $0.41 on November 29, but it faces a significant challenge ahead. A governance vote on a proposed 70 million ADA budget for a development team has surpassed 53% approval. While this signals active community participation, it also introduces potential selling pressure. At the same time, fresh derivatives data reveals a critical resistance barrier—a sell-wall equivalent to $40 million—forming near the $0.44 price point, which could cap any near-term price increases.

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