Cardano's ADA drops below 25 cents as shorts hit June highs ahead of Midnight launch

Cardano's ADA experiences an 8% weekly decline, prompted by market pressures and macroeconomic factors, with the price falling below the critical 25-cent level. Short positions against ADA are at their highest since June 2023, indicating trader capitulation amid a 71% slump since September. The upcoming launch of the Midnight sidechain, supported by major partners, could serve as a key turning point for ADA's market performance.