Cardano jumps 10% to 5 month high – Can ADA shorts fuel $0.30 move?

Key Summary

Cardano's price surged 10% to a 5-month high of $0.27, driven by a 297% increase in Spot Trading Volume. The altcoin's Open Interest jumped 18% to $635 million and Derivatives Volume rose 355%. Notably, $2.1 million worth of short positions were liquidated, but bearish positioning persisted as more capital entered the market. The Long/Short Ratio plummeted to 0.71, indicating a bearish skew across tracked exchanges. Cardano's Spot Netflow remained positive for two consecutive days, while Futures Inflows exceeded Outflows by $16 million.