Cardano's ADA has dropped below $0.62 as whale sell-offs intensify, with over 350 million ADA sold in the past week. The cryptocurrency's price has declined by 7.97% in the last 24 hours and 24.95% over the week, reflecting significant bearish pressure. This comes as the market awaits the SEC's decision on Grayscale's ADA ETF, expected on October 26. Market indicators show long liquidations and decreasing Open Interest, further signaling bearish sentiment. Despite the downturn, Polymarket traders estimate an 87% probability of the ETF's approval, which could potentially attract institutional investments similar to those seen with Bitcoin and Ethereum ETFs.