Not a good start of the week for Bitcoin and major altcoins across the board. The ADA price is no exception with a 5.5% dip today

The crypto market saw a slight shift in tone over the weekend, signaled by a massive reduction in open interest on derivatives exchanges. According to YouTuber LuckSide Crypto, this could be setting up Cardano (ADA) for a surprising return to the spotlight.
In his latest analysis video, LuckSide broke down how Bitcoin (BTC) appeared to be making an attempt at breaking out of its trend, but he wasn’t ready to call it a confirmed breakout just yet. He explained that similar setups in the past have seen the price quickly reverse.
Still, the BTC price managed to hit $10,440 over the weekend, which was the highest price point reached.
“The price action in Bitcoin is showing signs of exhaustion after a recent rally. As we move into the new week, it remains to be seen whether Bitcoin can sustain this momentum or whether we'll see a return to bearish pressure,” said LuckSide.
ADA, on the other hand, has been pushing the upper boundary of its trading range. On the 1-hour chart, it actually broke out of the range – but like Bitcoin, it’s not a confirmed move. ADA has made similar false starts recently, failing to sustain upward momentum.
But what really caught LuckSide’s attention was a significant shift in the derivatives market. Over the past 24 hours, a massive $800 million in open interest was removed from Bitcoin. For Cardano, the number was $35 million.
Importantly, these figures weren’t the result of liquidations. Instead, it suggests that many traders, especially those holding short positions, voluntarily closed them. According to LuckSide, this is often a sign that short sellers are getting nervous about potential upside movement.
He also highlighted the current long-to-short ratios. For Bitcoin, the market has now balanced out, with roughly equal numbers of long and short positions. But Cardano still shows a heavy skew towards shorts, with a 6.5:1 imbalance. This could be a recipe for a short squeeze, which might trigger a sudden and sharp price rally if market conditions align.
The video included a final thought from LuckSide, who advised viewers not to rely solely on charts. With so many variables at play, it’s the broader context that gives the full picture. Despite ADA’s recent price dip, the setup could favor a big move – especially if shorts continue to back off and fresh volume enters the market.