After the launch of Cardano (ADA)'s smart contract functionality, its price initially showed some positive movement. The adoption rate of smart contracts has been gradually increasing, which is a positive sign. Market reaction has been mixed. Some investors are optimistic about its long - term potential, while others are cautious due to competition. As the adoption rate continues to grow and more projects are built on Cardano, the price may receive more support. But if the adoption rate plateaus or competitors outpace it, the price may face downward pressure.
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The latest US CPI data exceeding expectations has triggered concerns about the Federal Reserve further tightening monetary policy. The expected tightening of liquidity has put pressure on risky assets in general. Although Bitcoin has a hedging property, it is also difficult to be immune in the short - term under macro - economic pressure. Regarding the MACD indicator, if a bearish crossover occurs, it means that the short - term downward momentum is strengthening; if the RSI indicator drops below 30 into the oversold zone, it may suggest that the price has fallen too much and there is a demand for a rebound. Overall, the price of Bitcoin is likely to decline in a volatile manner in the coming week. If the oversold situation is severe, there may be a technical rebound, but the overall upward space is limited.
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Threats from Emerging Public Chains: Ethereum's monopoly position in the DeFi field may face threats from emerging public chains. Some new public chains, such as Solana, Binance Smart Chain, and Terra, offer features like high throughput, low transaction costs, and innovative consensus mechanisms. They are attracting developers and users who are looking for more efficient and cost-effective platforms for DeFi applications.
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