**Introduction**
The Cardano price has faced a significant drop of 10% within the past day, falling below $0.45 amidst a bearish trend in the market. This decline was influenced by the negative reaction of the market to the recent Federal Reserve interest rate cut, leading to a wider downturn across various sectors. The cryptocurrency market as a whole has witnessed a 3% decrease during the same timeframe.
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### **Cardano Price Declines Amid Midnight Token Launch Disappointment**
**Cardano’s Price Fall**
In a sharp turn of events, the price of Cardano has plunged by 10% over the last 24 hours, breaching the $0.45 mark. This downward spiral comes as a result of prevailing bearish sentiment in the market.
**Market Response to Interest Rate Cut**
The negative response from the market can be attributed to the recent interest rate cut announced by the Federal Reserve, which seems to have catalyzed a widespread downturn in various financial sectors, including cryptocurrencies.
### **Impact on the Cryptocurrency Market**
**Broader Market Downturn**
The crypto market as a whole has not been immune to these fluctuations, experiencing a 3% decrease alongside Cardano’s decline. This broader market downturn indicates a period of uncertainty and volatility in the crypto landscape.
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**Conclusion**
The Cardano price dip of 10% following the Midnight Token launch reflects the current fragile state of the market, influenced by external factors like the Federal Reserve’s interest rate cut. As investors navigate through these turbulent times, staying informed and cautious remains crucial in managing cryptocurrency investments.