Cardano (ADA) Jumps 12% and Bitcoin Retreats After New Record

• ADA rises 12% and breaks the $1 mark
• Bitcoin hits record high of $124.500 and retreats
• Ethereum nears its all-time high

Bitcoin's price ended Wednesday surpassing $124.500 for the first time, setting a new all-time high. However, on Thursday, BTC began a correction and is now trading near $120.800, showing no gains at the time of writing. The pullback may be related to profit-taking following the significant appreciation recorded throughout the week.

Before the crash, BTC's market cap exceeded $2,4 trillion, although its dominance over altcoins remained below 58%. Bitcoin's downward trend comes despite growing expectations of a potential surge in the value of alternative cryptocurrencies.

Cryptocurrencies today: Cardano (ADA) jumps 12% and almost 30% in the week

Among altcoins, Cardano (ADA) stood out, registering a rise of over 12% in 24 hours. The asset broke the $1 barrier, something it hadn't done since early March, boosting optimism among network investors. The ADA cryptocurrency is now close to $0,9657, up 10% on the day. This significant increase comes amid growing interest in assets with greater recovery potential, given ADA's still considerable distance from its all-time high.

Ethereum, meanwhile, maintained its upward trend and traded above $4.700 after a daily increase of about 2%. The asset remains on track to reapproach its 4.878 peak of $2021. Solana (SOL) surpassed $200, also after a slight increase.

Other altcoins like TRX and HYPE advanced around 3%, while names like XRP, DOGE, XLM, PEPE, CRO, and SHIB saw slight declines. ENA lost the most value on the day, falling 9%.

The total cryptocurrency market cap has reached a new peak and remains above $4,2 trillion, reflecting the sector's growth even amid occasional volatility. The intense movement indicates that the so-called altseason may be gradually consolidating.