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As March comes to an end, cryptocurrency traders look for insights on cryptocurrencies with the potential to skyrocket in April. Among valuable indicators, the open interest in the derivatives market hints at possible short squeezes in the following weeks. In particular, the current domination of short positions could trigger massive liquidations in specific cryptocurrencies , proportionally pumping their prices. This happens because traders agree upon a liquidation price to open shorts against a cryptocurrency they are bearish with. If the underlying asset reaches the liquidation price, the position is closed through the asset’s repurchase. Picks for you 2 cryptocurrencies to reach $10 billion market cap in April 6 mins ago Economist Peter Schiff’s warning to ‘ignorant’ young people preferring Bitcoin 2 hours ago Claude Opus AI predicts Gold price for the end of 2024 3 hours ago Breakout signal: This is the crucial XRP price level to watch 4 hours ago ...

Bitcoin (BTC) recently experienced a price retracement, trading as low as $42,100, which moved the whole cryptocurrency market. Under a bearish sentiment, some cryptocurrencies have been heavily shorted, threatening short- squeeze events on December 29. Notably, Bitcoin’s dominance suffered the most as altcoins were able to guarantee lower losses than the market leader. Amid signs of an altseason, an increased volume of short positions could ignite massive liquidations — driving the price upwards. In particular, Finbold spotted two cryptocurrencies on CoinGlass ’s dashboard that triggered our short squeeze alert . Cardano (ADA) and Radix (XRD) have a significantly higher volume, favoring shorts over long positions.  Short squeeze alert for Cardano (ADA) on December 29 The first short squeeze alert is for Cardano, one of the market’s oldest and most solid Ethereum (ETH) competitors. With a $22.07 billion capitalization, its native token trades at $0.623 by press time...