Remittix (RTX) Could Outpace Cardano (ADA) in Market Cap by 2025, Setting the Stage for a Surprising Market Shift

Cardano has long been a staple in the portfolios of cautious crypto investors, but its recent stagnation has sparked debate about its near-term potential.

The price of bitcoin fell below $68,000 on Wednesday, continuing a decline that began last week as enthusiasm for the digital currency wanes.

Bitcoin dropped as low as $67,708, continuing a decline from Friday, when it fell below $70,000 for the first time since March 23. It last fell 1.4% in the past 24 hours to $67,888 by 08:45 ET (12:45 GMT).

The world’s leading cryptocurrency has risen sharply this year on optimism over the adoption of cryptocurrencies by major institutions and the launch of bitcoin futures by futures exchange operator CME Group in December.

But the cryptocurrency has stalled in recent days as enthusiasm for the digital currency wanes.

The lack of any clear breakout point above the $70,000 level and the impending expiry of March series futures contracts on Friday are likely to put further downward pressure on bitcoin price in the short term, said Mingxi Wang, a cryptocurrency derivatives trader at digital asset trading firm Osmium Markets.

"There is potential for further downside in the short term as we expect more selling in anticipation of the futures expiry on Friday," Wang said.

Bitcoin is still up more than 150% this year. It hit a record high of $71,980.80 on March 13.

The cryptocurrency slid below $70,000 on Friday for the first time since March 23. It last fell 1.4% in the past 24 hours to $67,888 by 08:45 ET (12:45 GMT).

Meanwhile, ether fell 0.7% to $2,144.4.