Cardano (ADA) has dropped to $0.26, marking a 9% decline as the cryptocurrency market faces significant pressure. This downturn comes as Bitcoin fell below the $70,000 mark, triggering widespread market turmoil. ADA's price has decreased by 21% over the past week and 36% over the past month, reflecting a broader bearish trend. The decline in Cardano's price aligns with a bear cycle, with indicators such as the Fear & Greed Index in extreme fear and negative funding rates across exchanges. The market's instability is further exacerbated by macroeconomic conditions and institutional outflows. Analysts warn that if the current support level of $0.26 fails, ADA could drop to $0.20 or lower. Bitcoin's drop has also impacted other altcoins, with XRP falling 14% and Solana breaching support at $90. The market's volatility is highlighted by Glassnode's report of a significant spike in forced selling, indicating heightened de-risking and volatility.