Cardano (ADA) has experienced a death cross on its hourly chart, with its price dropping 5.36% over the past 24 hours to $0.611. This marks the fourth consecutive day of declines for the cryptocurrency. The downturn follows a 25-basis-point rate cut by the Federal Reserve and cautious comments from Chair Jerome Powell, which have tempered market optimism. Adding to the pressure, large ADA holders offloaded 100 million tokens within 72 hours. The broader cryptocurrency market also faced significant challenges, with $1.13 billion in leveraged futures liquidations on Thursday, predominantly affecting long positions, which accounted for $975.66 million of the losses.