Cardano's market capitalisation has recovered to the $6 billion level, while contrasting indicators are drawing attention.

On June 11, blockchain media outlet U.Today reported that the rebound coincided with a slight recovery across the crypto market after the release of U.S. inflation data. The U.S. Bureau of Labor Statistics (BLS) said May consumer prices rose 4.2 percent from a year earlier. That was broadly in line with existing market expectations.

The market is watching the number as it tilts toward the likelihood that the Federal Reserve will keep interest rates unchanged at its June 17 meeting, while still leaving room for additional increases by year-end.

But the burden remains for Cardano bulls. The market is citing derivatives positions and funding rates as evidence that bearish sentiment is growing, and short-selling bets are also increasing. A dead cross is imminent on the weekly chart, and ADA is trading near lows last seen in December 2020. Prices are rebounding, but a reading is possible that downside pressure still dominates the medium- to long-term trend.

On-chain indicators also sent a different signal. Analytics firm Santiment pointed to unusual moves in Cardano's on-chain age metrics over the past several days. Its age-consumed metric has been rising steadily, and wallets that had not moved for a long time have started shifting in large size.

Mean Dollar Invested Age (MDIA) also jumped sharply over the past several days. The change shows that ADA that had not moved for a long time has started circulating again.

Santiment drew a line, saying the changes alone do not confirm an immediate reversal. Santiment said, "It does not show a trend reversal is imminent," while also assessing that a change can be seen inside the market. Historically, rises in MDIA and a pause and decline in the age-consumed metric have often appeared near major market turning points.

A slowdown in trading volume is also being observed. Santiment said trading volume in major crypto assets is at the lowest level in two years, adding it points to a capitulation phase needed to create a crypto relief rally.

Cardano has regained a $6 billion market cap, but it is hard to conclude sentiment has changed on a price rebound alone. Derivatives markets and technical indicators remain burdens, while on-chain data show a reshuffling of long-held supply. The focus will be whether the on-chain changes lead to an actual recovery in buying, or whether they remain a temporary move within a bearish trend.

✍️ TL;DR: Large dormant Cardano wallets moving, signs of bounces arising Metrics Used: Mean Dollar Invested Age, Age Consumed Link to chart: https://t.co/CIT6gOeNQe Cardano's on-chain age metrics have started showing unusual behavior the past several days. $ADA’s Mean… pic.twitter.com/ktUy3ncu5E