Cardano Tumbles Amid Macro Pressures and Slowing BTC ETF Inflows

Cardano's (ADA) price took a hit yesterday, dropping by 1.48% to $0.247 in 24 hours. This decline was more pronounced than the broader market's slight negative movement, largely driven by macro headwinds pressuring risk assets.

The total crypto market cap dipped 0.34% in 24 hours, with Bitcoin down 0.29%. Cardano's larger decline reflects its typical sensitivity to broader risk-off flows.

One key driver behind this cooling was the sharp slowdown in U.S. spot Bitcoin ETF inflows to just $31 million on September 28, down from nearly $1 billion earlier in the week. This decrease in institutional demand, combined with rising Treasury yields and a stronger dollar, created a headwind for higher-beta assets like ADA.

Traders are keeping an eye on today's U.S. PCE inflation print; a hotter reading could reinforce hawkish Fed expectations and pressure crypto further. ADA is trading around its 200-day average at $0.24772, a major support level that held during a sharp sell-off on September 29.