DOGE and ADA Drop 7% Amid Recession Concerns Among Crypto Traders

On Friday, Dogecoin DOGE and Cardano ADA experienced significant declines. Key points include:

DOGE fell nearly 7% within 24 hours.
ADA dropped by 6.5% amid a risk-off sentiment among traders.
Bitcoin BTC rose above $102,000 after hitting near $101,000 the previous night.
Other cryptocurrencies like ETH, XRP, BNB, and SOL declined between 2%-5%.
The dispute between Elon Musk and Donald Trump raised concerns about a potential technical recession and impacted speculative assets.
Analysts noted that political tensions could negatively affect market confidence.
Traders are cautious ahead of developments regarding the debt ceiling and Trump's fiscal policy proposals.

Institutional interest remains as evidenced by Circle's successful IPO, suggesting long-term optimism in crypto markets despite current volatility.