Cardano leads crypto gains as traders return, but broad altcoin season remains distant
Cryptocurrencies started 2026 on steady footing Friday in Asia, with Cardano’s ADA outperforming large caps as traders returned from the holiday break and risk appetite improved.
Bitcoin rose about 1% to trade near $88,700, while Ether added roughly 1%, hovering around $3,010, continuing a measured recovery from late-December lows. ADA jumped 7%, outpacing the broader market, while Solana, XRP, and BNB also posted gains. Analysts say these moves reflect selective positioning rather than an early altcoin season.
“Investors aren’t rotating wholesale out of Bitcoin and Ethereum into altcoins,” said crypto payments firm B2BINPAY. The Altseason Index near 16 indicates Bitcoin dominance remains high, and inflows into select large-cap altcoins appear to be targeted rather than broad-based.
The modest crypto rebound coincided with a broader risk-on sentiment globally. Asian equities rose 0.8%, led by technology stocks, while Nasdaq 100 futures gained 0.6%, outpacing S&P 500 contracts as traders focused on AI and semiconductor names. Precious metals also advanced, with gold near $4,350 an ounce and silver up over 1%, as markets priced in potential U.S. rate cuts and dollar weakness.
Analysts cautioned that near-term pressures from portfolio rebalancing could persist. Still, Bitcoin holding in the high-$80,000s and Ether stabilizing above $3,000 suggest dip-buying is returning, even as conviction in altcoins remains limited.
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