Cardano (ADA) has seen a significant price rebound, rising over 33.7% to an intraday price of $0.436 on November 8, primarily influenced by bullish market sentiment following Donald Trump's victory in the U.S. presidential race. ADA's price surged 17% in 24 hours, outperforming the broader cryptocurrency market, which also has witnessed substantial gains, driven by increased optimism and market liquidity due to the Federal Reserve's recent interest rate reduction. Bitcoin reached a new all-time high of $76,943, with Ethereum trading above $2,900. Additionally, ADA's open interest-weighted funding rate spiked, indicating heightened investor interest and long positions. The technical analysis shows ADA breaking through a long-standing resistance level, with potential targets reaching as high as $0.52 in the near term. The overall cryptocurrency market capitalization rose to $2.57 trillion, reflecting a broader uptrend.

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