Cardano on the Verge of Breakout: $73M Liquidations Loom as Hoskinson Promises to Break the Internet

Cardano (ADA) is once again in the spotlight. After weeks of struggling to sustain upward momentum and facing repeated rejections at key resistance levels, the token is showing growing signs of strength — with bulls preparing for a potential breakout.

Strong market signals: inflows are rising The Chaikin Money Flow (CMF) indicator has surged to its highest level in nearly two months. This signals a strong inflow of capital into ADA, reflecting increasing optimism among traders. A sustained inflow typically translates into stronger price support and is a critical ingredient for long-term growth.

If this momentum continues, ADA could soon retest the $1.00 mark. The key will be sustained buying pressure, which bulls are currently managing to maintain.

$73M in liquidations: threat and opportunity Cardano’s liquidation map shows a major risk for bears. Should ADA climb toward $1, it could trigger liquidations of short positions worth around $73.5 million. This kind of squeeze could shift market sentiment dramatically in favor of the bulls. However, mass liquidations often lead to a drop in open interest, which may spark a short-term correction. ADA’s market now stands at a tipping point, where each move could fuel heightened volatility.

Hoskinson vows to “break the internet” Adding to the excitement, Charles Hoskinson, founder of Cardano, recently fired up the community with a hyper-bullish post on X, claiming Cardano is about to “break the internet.”

Hoskinson has just returned from Washington, where he attended a key roundtable on crypto market structure legislation. He stated that “great progress” had been made, opening the door for broader adoption of ADA. Still, his bold words have drawn both enthusiasm and mockery. Critics note that ADA continues to struggle to reclaim the $1 mark. Some even joked that Hoskinson should “sell his helicopter to help struggling holders.” After all, ADA is still down more than 70% from its all-time high in 2021.

ETF brings fresh hope Amid the skepticism, there’s also positive news. The U.S. Securities and Exchange Commission (SEC) has just approved Grayscale’s new multi-token ETF, which includes exposure to ADA among other major tokens. Analyst Nate Geraci noted that the product is expected to see significant demand. This approval gives Cardano a stronger institutional footprint and could attract capital from larger players who previously stayed on the sidelines.

Key price levels At the time of writing, ADA trades around $0.93, working to establish this level as support. The next major resistance lies at $0.96. A breakout here could open the path back to $1.00, with a confirmed breach potentially sparking a new bullish cycle. On the flip side, if sellers regain control, ADA risks falling back to $0.87, which would invalidate the bullish setup.

Bottom line Cardano stands at a critical crossroads. The combination of rising inflows, a looming $73M short squeeze, fresh ETF approval, and Hoskinson’s bold statements paints a picture of growing potential. The question remains: will ADA finally ride a bullish wave back to glory — or will skeptics be proven right once again?

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