Cardano (ADA) has achieved a significant milestone with the successful completion of its first-ever on-chain governance vote. For the first time, core development funding has been directly approved by the Cardano community, marking a significant step forward in the blockchain’s transition to fully decentralized governance. Reacting to the milestone, Cardano’s founder, Charles Hoskinson, shared his thoughts on the network’s progress. 

Cardano Enters New Era Of Decentralized Governance

The Cardano ecosystem has reached a pivotal moment in its growth and evolution, marking a historic milestone with the recent execution of its first governance vote. The landmark event signals the beginning of a new phase for the blockchain, where decisions around core development funding are now being made directly by the community rather than centralized entities.

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Hoskinson publicly acknowledged the significance of the event in an X social media post on August 3. He praised the community for their support and trust, reinforcing the belief that decentralized governance is not just a vision but now an operational reality within the Cardano ecosystem. 

Hoskinson’s remarks came in response to an earlier post by Input Output Global (IOG), a blockchain research and development company behind Cardano’s development. IOG had commemorated the blockchain’s recent governance achievement by stating that the Cardano community had officially made history. 

The governance vote had approved direct funding for core development initiatives, representing a foundational shift in how the Cardano ecosystem grows and evolves. Rather than relying on a small group of decision-makers, the blockchain now empowers its global community to determine resource allocation collectively. Input Output Global praised both Cardano and its community’s efforts, calling the recent milestone the beginning of a new era of decentralized governance. 

Notably, the broader crypto community is already responding with enthusiasm, with many offering congratulations and support as Cardano celebrates this landmark event. The network’s successful governance vote sets a powerful precedent in the crypto industry, showcasing the potential of a blockchain governed directly by its users. 

Cardano Becomes Only Top 10 With On-Chain Governance 

In addition to its historic governance vote, Cardano has emerged as the only top 10 cryptocurrency by market capitalization to implement on-chain governance, setting a new benchmark for how blockchain ecosystems are managed and governed. 

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According to a report by Cardanians (CRDN) on X, the blockchain’s governance framework is actively functioning, with 39 treasury withdrawal proposals currently open for voting. These proposals allow Delegated Representatives (DReps) and the broader community to directly participate in shaping the ecosystem by deciding which initiatives receive funding and move forward.

As of now, none of the other top 10 blockchains, including Bitcoin, Ethereum, XRP, USDT, Binance Coin, Solana, USDC, Tron, and Dogecoin, have matched Cardano’s level of on-chain decision-making power. While these cryptocurrencies continue to lead in various areas, Cardano stands out as the 10th-largest cryptocurrency by market cap with a uniquely advanced governance system.

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Bitcoin is up 9% since last Sunday, showing renewed strength as it approaches key resistance levels. After weeks of choppy price action and uncertainty, momentum is building across the crypto market. Traders and analysts alike are closely watching Bitcoin’s next move, with many calling for a potential breakout above the all-time high. With bullish sentiment rising and liquidity returning to risk assets, a decisive move could be imminent.

Supporting this outlook is a key on-chain signal highlighted by top analyst Darkfost. According to his insights, the short-term holder (STH) realized price ratio recently dropped below 0.995—a level that historically signals STHs are capitulating and selling at a loss. This behavior typically emerges during local bottoms, often presenting high-reward opportunities for long-term investors. It’s these moments of weakness that frequently precede strong recoveries and upward trends.

As Bitcoin pushes higher, the broader market remains optimistic that a confirmed breakout could shift momentum across the altcoin sector as well. For now, the focus remains on whether BTC can sustain current gains and break through resistance decisively. With strong fundamentals, growing institutional interest, and supportive on-chain data, Bitcoin’s next major move may be just around the corner.

Bitcoin Faces Critical Test As Market Awaits Next Move

Bitcoin is once again at a crucial juncture, hovering between its all-time high of $112,000 and key support at $105,000. Bulls are working to break above resistance and spark the next leg higher, while bears aim to drag the price below support and shift momentum in their favor. This standoff has created a volatile and indecisive environment, with price swinging between these levels for days. So far, neither side has been able to establish dominance, leaving traders on edge as the next major move begins to take shape.

Adding to the broader market optimism is the US stock market, which has just reached a new all-time high. Many analysts see this as a leading indicator for crypto, suggesting that Bitcoin and altcoins could be next in line to follow the rally. Liquidity conditions are improving, and risk appetite is returning, setting the stage for a potential breakout if Bitcoin can overcome resistance.

Darkfost recently shared a key on-chain signal supporting this outlook. According to his analysis, the Short-Term Holder Spent Output Profit Ratio (STH SOPR) has dropped below 0.995. Historically, this level indicates that short-term holders are capitulating and selling at a loss—a behavior often seen at local bottoms. When STHs exit in fear, it tends to clear the way for stronger hands to accumulate, laying the groundwork for the next leg up.

With bullish macro signals and on-chain metrics aligning, Bitcoin’s current range could soon give way to a major move. Whether that breakout happens above $112K—or a breakdown below $105K—will determine the tone of the next chapter in this market cycle. For now, all eyes remain on Bitcoin.

BTC Price Action: Testing Key Resistance

Bitcoin is currently trading at $107,321, consolidating just below the critical $109,300 resistance level. This zone has acted as a ceiling for over a month, with multiple failed attempts to break above. The latest recovery from the $103,600 support has been strong, with BTC reclaiming all key moving averages—50 SMA ($105,774), 100 SMA ($105,866), and staying well above the 200 SMA ($97,046)—showing a shift in short-term momentum toward the bulls.

The 12-hour chart displays a clear pattern of higher lows, indicating that buyers are stepping in with increasing confidence. However, the lack of volume during this latest push suggests hesitation, as traders await a confirmed breakout before fully committing. For Bitcoin to gain significant upside traction, it must close multiple candles above $109,300, turning resistance into support.

If bulls fail to break above resistance soon, the $105,000–$103,600 zone becomes the critical area to hold. A breakdown below this range could open the door for a deeper retracement toward the 200 SMA around $97,000. Until then, BTC remains in a neutral-to-bullish posture, with the market watching closely for a decisive move that could shape the next leg of this cycle.

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Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors. After weeks of heavy selling pressure, Bitcoin has entered a consolidation phase, trading between $80K and $85K, with no clear breakout direction yet.

Bulls now face a critical test, as they must push BTC above key resistance levels to prevent bears from driving prices lower. If BTC fails to reclaim $85K-$90K, it could lead to another round of selling pressure, sending the price toward lower demand zones. The uncertainty in global markets, combined with macroeconomic headwinds such as inflation concerns, rising interest rates, and trade war fears, has kept investor sentiment fragile.

Despite this short-term uncertainty, insights from IntoTheBlock highlight an important historical trend—when analyzing previous Bitcoin halvings, peaks typically occur 12–18 months post-halving, which would point to mid-to-late 2025 as the likely timeframe for this cycle’s top.

The big question remains: Is this cycle different? With institutional adoption rising, government policies shifting, and market volatility increasing, analysts are watching closely to determine whether Bitcoin will follow its historical pattern or if external factors will reshape this cycle. The next few months will be crucial in deciding Bitcoin’s long-term trajectory.

Historical Halving Trends Suggest More Growth Ahead

Bitcoin has been under heavy selling pressure, mirroring the broader struggles of both the crypto market and the US stock market. Macroeconomic uncertainty, trade war fears, and tightening financial conditions have all contributed to weakened investor sentiment, leading to widespread volatility across risk assets.

Since the start of the month, Bitcoin has dropped nearly 20%, and the bearish trend appears to be holding. However, despite the short-term weakness, market fundamentals remain strong. Institutional adoption continues to grow, and US President Donald Trump’s plans to establish a Strategic Bitcoin Reserve could serve as a major catalyst for future price movements.

Insights from IntoTheBlock on X highlight that when looking at historical Bitcoin halving cycles, peaks tend to occur 12–18 months after a halving event. This pattern suggests that the current cycle’s top could emerge around mid-to-late 2025.

While institutional flows and regulatory developments could introduce new variables into this cycle, IntoTheBlock analysts believe there is still time left before Bitcoin reaches its true peak. If historical trends hold, this correction may be a necessary phase before another major rally unfolds.

Bitcoin Struggles Below $85K As Bulls Face Critical Resistance

Bitcoin (BTC) is currently trading at $84,200, struggling to regain momentum after days of selling pressure that have kept the price below the $85K mark. Bulls must reclaim the $90K-$91K level to confirm a potential recovery, as this range coincides with the 4-hour 200 moving average (MA) and exponential moving average (EMA)—key technical levels that often signal trend shifts.

If BTC can break through this resistance, it could trigger a strong upward move, potentially setting the stage for another push toward all-time highs. However, failure to hold above $85K and reclaim the moving averages could lead to further downside pressure, sending Bitcoin below the $80K mark.

With market sentiment still fragile, bulls face a critical test in the coming days. If BTC remains trapped below resistance, selling pressure could intensify, forcing the market into lower demand zones. On the other hand, a decisive breakout above $90K could restore bullish momentum, signaling a potential end to the recent correction phase. The next trading sessions will be crucial in determining Bitcoin’s short-term trajectory.

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The year 2025 has not exactly gone as planned for the crypto industry, as bearish pressure continues to envelop the market. Following the recent downturn that shook the crypto market, the Bitcoin price is now trading nearly 25% beneath its all-time high.

According to data from CoinGecko, the price of Bitcoin is down by roughly 12% in the past seven days. What’s worse is that the latest price data suggests that the decline might not yet be over for the premier cryptocurrency.

The Current Outlook For BTC Price

In a February 28 post on social media platform X, crypto analyst Ali Martinez put forward another bearish outlook for the Bitcoin price in the current market condition. According to the internet pundit, the price of BTC could fall towards $74,700 to find relief from the ongoing correction.

The rationale behind this prediction is the movement and the crucial nature of the 50-week moving average on the Bitcoin weekly chart. Martinez noted that the price of BTC historically tends to find support and bounce off above this long-term moving average.

Source: Ali_charts/X

As shown in the chart above, the Bitcoin price has experienced deep corrections in past cycles, which often bounces off the 50-week moving average. Most recently, the flagship cryptocurrency found support at the moving average in July 2021, rebounding to the then-all-time high of around $62,000 before reaching the $67,737 cycle top.

Going by this historical precedence, it appears that the Bitcoin price might be at risk of further downward movement, with the next support around $74,700. However, if this crucial support level holds strong, the market leader could bounce back to its previous all-time high price and even beyond.

On the flip side, if the price of BTC breaches the 50-week moving average to the underside, the premier cryptocurrency could be in for an extended correction period. Using previous cycles as a template in analyzing this bearish case, the Bitcoin price is at risk of commencing its bear market if it breaks the 50W moving average.

In the last cycle — after breaching the 50-week moving average, the price of Bitcoin declined from around $68,000 to beneath $17,000 — a 75% decline — in just about a year. However, it is worth mentioning that this downturn might have been exaggerated due to the collapse of Terra Luna and FTX exchange in 2022.

Bitcoin Price At A Glance

As of this writing, the price of BTC sits just above the $85,200 mark, reflecting no significant change in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

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