Ethereum

Cardano

Bitcoin ETF

Dogecoin

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 <p class="paragraph">Bitcoin’s (BTC) dominance is back to local resistance, nearing 55%, while the altcoins lost strength against the leading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. As this occurs, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> traders favored opening short positions against <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> that could soon <a rel="noopener noreferrer nofollow" title="skyrocket" href="https://thebittimes.com/tag/skyrocket.html">skyrocket</a> with a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p>
 <p class="paragraph">Notably, the Bitcoin Dominance Index (BTC.D) is 54.64%, currently above the 50-day exponential moving average (EMA). The BTC.D nears a local top at 55.26% as Bitcoin gains strength against altcoins, mostly of which traders have been increasingly shorting.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp" alt class="wp-image-168347" srcset="https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp 1024w, https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp 300w, https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp 768w, https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp 1536w, https://cdn.thebittimes.com/images/2024/04/12/b610f449c915bbd0f25d05f1299ba066.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Dominance Index (BTC.D). Source: <em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">As a result, some of these cryptocurrencies accumulate relevant liquidation pools upwards, potentially triggering short squeezes next week.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <h2 class="wp-block-heading" id="h-short-squeeze-alert-for-cardano-ada">Short squeeze alert for Cardano (ADA)</h2>
 <p class="paragraph">In particular, Cardano (ADA) has accumulated massive short interest after losing its position in the top 10 cryptocurrencies by capitalization.</p>
 <p class="paragraph">On that note, ADA has the potential to skyrocket from the current $0.58 to above $0.68. This represents a potential 17.25% increase in price if a short squeeze liquidates these short-sellers.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="533" src="https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp" alt class="wp-image-168348" srcset="https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp 1024w, https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp 300w, https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp 768w, https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp 1536w, https://cdn.thebittimes.com/images/2024/04/12/013d14c0fffcf135e1c84bacf6a8e400.webp 1834w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ADA Liquidation Heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, futures contracts open interest for Cardano remains at significant historical levels, with proportional low prices. There is circa $400 million in these contracts, according to data retrieved from <em>CoinGlass</em> on April 12.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="246" src="https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp" alt class="wp-image-168349" srcset="https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp 1024w, https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp 300w, https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp 768w, https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp 1536w, https://cdn.thebittimes.com/images/2024/04/12/05e983e8ac9eb9a478e7d0e56b481971.webp 1822w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ADA Futures Open Interest (USD). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="dogecoin-doge">Dogecoin (DOGE)</h2>
 <p class="paragraph">Another cryptocurrency with historically high open interest is Dogecoin (DOGE). The leading meme coin has over $1.55 billion with opened positions in the derivatives market, indicating high volatility ahead.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="246" src="https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp" alt class="wp-image-168350" srcset="https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp 1024w, https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp 300w, https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp 768w, https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp 1536w, https://cdn.thebittimes.com/images/2024/04/12/8d910ac4c0870f6a1b85a0740ba906c0.webp 1822w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE Futures Open Interest (USD). Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Interestingly, many of these are made of short positions, opened in a similar price range. The mass-shorting has created a dense liquidity pool at $0.21, which market makers could target for a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="533" src="https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp" alt class="wp-image-168354" srcset="https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp 1024w, https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp 300w, https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp 768w, https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp 1536w, https://cdn.thebittimes.com/images/2024/04/12/67c0076be4e31934c8687d34c98b99d0.webp 1834w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ADA Liquidation Heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Dogecoin traded at $0.198 by press time. Therefore, a run to these liquidations would reward DOGE traders with 6% gains.</p>
 <p class="paragraph">However, having accumulated liquidity is not enough to ignite short squeezes. These trading events are caused by a conjunction of factors playing together and usually require a fundamental motivation like bullish news as a trigger.</p>
 <p class="paragraph">For that reason, traders and investors must follow news and developments related to these cryptocurrencies while making financial decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-next-week-two-cryptocurrencies-with-skyrocket-potential-tbt85180.html">https://thebittimes.com/short-squeeze-alert-for-next-week-two-cryptocurrencies-with-skyrocket-potential-tbt85180.html</a></p>

Short squeeze alert for next week: Two cryptocurrencies with skyrocket potential

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