Monat: April 2025

• Bitcoin has spiked to above $95k, hitting a two month high.
• Cryptocurrencies are up as stocks rise.
• CryptoQuant says the benchmark cryptocurrency could see a short squeeze.

Bitcoin price spiked to above $95k on Friday, hitting a two-month high as cryptocurrencies rallied alongside stocks on fresh sentiment around tariffs.

While the BTC price still awaits a retest of $100k, a CryptoQuant analyst says the benchmark cryptocurrency could be poised for a short squeeze.

The move above $92k could be crucial, the analysts said as they pointed to BTC data on Binance.

Why Binance Data Suggests a Bitcoin Squeeze Is Coming

“High-leverage longs were flushed out between $82K and $88K, indicating that weak hands had been eliminated. Large short positions remain susceptible above $92,000, creating the possibility of a short squeeze.” – By… pic.twitter.com/HbtkP1nGF5

— CryptoQuant.com (@cryptoquant_com) April 25, 2025

Why this matters

A short squeeze occurs when a sharp price increase forces short sellers to close their positions, driving further buying and amplifying the rally.

“Bitcoin has just surged above $95K for the first time in 2 months, leaving bearish traders kicking themselves for selling on tariff fears,” analysts at Santiment wrote.

With high-leverage longs already cleared out and short positions stacked above $92,000, Bitcoin is primed for a potential squeeze if it sustains strength above this critical level.

However, if Bitcoin fails to hold $92,000, it could face a correction toward $88,500 or lower, as bearish momentum could take over.

Binance data highlights thinner liquidity above current price levels, meaning there are fewer sell orders to absorb buying pressure.

If Bitcoin breaks above $92,000, the lack of resistance could amplify upward moves, especially if short liquidations add fuel to the rally.

This aligns with the potential for a squeeze, as thin liquidity zones often lead to exaggerated price movements.

Crypto, stocks rally

The heatmap indicates a notable concentration of short positions near the $100,000 level, highlighting a possible short squeeze scenario.

The psychological threshold remains a key target for bullish momentum.

In addition to gains across broader risk assets amid easing US-China trade tensions, other factors may also be influencing Bitcoin’s price movement.

ETF flows, the Federal Reserve’s policy shifts, with Trump saying he will not fire Jerome Powell, are also major points.

“It blows my mind that sophisticated investors really thought it was a good idea to sell American stocks and bitcoin because the President of the United States was implementing pro-America economic policies. Stocks and bitcoin both up since the close of Liberation Day,” Anthony Pompliano said.

However, IntotheBlock data shows over 94% of Bitcoin holders are in profit at current price levels.

Bitcoin ETFs recorded the highest net inflows since January this week. This interest caused Bitcoin’s price to surpass $95k, placing over 94% of holders in profit pic.twitter.com/5HTZb81f7h

— IntoTheBlock (@intotheblock) April 25, 2025

If prices surge further, one likelihood would be for some profit taking to kick in, potentially stalling bulls in the short term.

The post Is Bitcoin set for a short squeeze? Analyst points to Binance data appeared first on CoinJournal.

• Ronin Bridge has migrated to Chainlink CCIP as its official cross-chain provider.
• The Chainlink CCIP now secures over $450 million in bridged assets for Ronin.
• Ronin developers and users will benefit from faster, more secure token transfers.

The Ronin Network has successfully completed the migration of its legacy Ronin Bridge to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), marking a significant milestone in the blockchain’s evolution and its commitment to secure, seamless asset transfers across chains.

The migration formalizes Chainlink CCIP as Ronin’s canonical cross-chain infrastructure provider, a decision that follows an October 2024 validator community vote in which Ronin stakeholders opted for Chainlink over competing solutions from LayerZero and Axelar.

Enhanced security and infrastructure

Trung Nguyen, the chief executive officer and co-founder of Sky Mavis which created the Ronin Network to support its popular Axie Infinity game ecosystem, described the migration as a major unlock for Ronin’s scalability and security.

By integrating Chainlink CCIP, Ronin now leverages a robust, protocol-agnostic interoperability framework that helps safeguard more than $450 million worth of assets currently bridged to the gaming-focused blockchain, addressing security concerns raised by the 2022 exploit that resulted in over $600 million lost.

Developers building games and decentralized applications on Ronin will benefit from streamlined access to a secure, high-throughput bridging solution, while users can now transfer tokens such as AXS, YGG, BANANA, USDC, and Wrapped Bitcoin with greater confidence and reduced friction.

However, the deprecated Ronin Bridge tab remains visible on Ethereum to accommodate pending withdrawal requests from users yet to claim stranded tokens on Ethereum after the platform paused the legacy bridge amid suspicious withdrawals nearing 10 million in August 2024.

Sky Mavis has encouraged completion of these withdrawals before fully deprecating the old interface.

Driving DeFi adoption

Beyond security, the CCIP integration paves the way for enhanced decentralised finance (DeFi) activity on Ronin by tapping into Chainlink’s broader suite of oracle and interoperability services, an initiative that aligns with Ronin’s vision to become the most accessible consumer chain in the Web3 gaming ecosystem.

Chainlink’s growing ecosystem of bridges, oracles, and staking services offers Ronin a robust security framework and Sky Mavis plans to tap additional Chainlink solutions to improve user experience and drive broader adoption.

As Ronin scales to support the next generation of games and applications, the successful migration to Chainlink CCIP underscores a broader industry trend toward standardized interoperability solutions and highlights the importance of transparent, community-driven governance in fostering innovation.

The post Ronin Bridge migrates to Chainlink cross-chain interoperability protocol appeared first on CoinJournal.

• Dogwifhat (WIF) has surged 60% in a week and 21% in 24 hours.
• Derivatives volume has soared to $1.06B, and the open interest has risen to $301M.
• The 14-day RSI is above 72, indicating overbought conditions.

Dogwifhat (WIF) rose sharply, gaining 60% over the past week and 21% in the last 24 hours, reflecting heightened volatility in the memecoin space.

The gains outpaced broader movements in the sector, where the total memecoin market cap increased 3.4% in the past day to $59.9 billion.

The rebound comes amid increased investor interest and a shift in risk sentiment across the crypto market.

Besides Dogwifhat, other leading meme tokens like Pudgy Penguins (PENGU), Official Trump (TRUMP), and ai16z (AI16Z) have each posted double-digit gains, further stoking enthusiasm among traders and speculators.

Increased market activity

Derivatives activity has heated up, with the open interest surging by roughly 30% to $301 million while aggregated trading volume topped $1.06 billion, according to Coinglass data.

On spot markets, WIF’s 24-hour trading volume has swelled to $383 million, reflecting the rally’s broad-based appeal among Solana-based memecoins on both decentralized and centralized exchanges.

Much of the recent strength has been driven by whale accumulation, with significant buy orders lifting prices off prior support levels and signaling confidence among larger holders.

Dogwifhat RSI enters overbought region

From a chart standpoint, WIF has cleared resistance around $0.58, placing the next significant hurdle at $0.769, which will test the conviction of buyers eyeing further gains.

On the downside, the critical support level lies at $0.334, a floor that must hold to prevent a steeper decline, as a breach there could trigger a sharp decline.

However, technical indicators now warn that momentum may be peaking, as the 14-day Relative Strength Index (RSI) reading on the daily chart has spiked above 72, squarely in overbought territory.

Breaches into overbought territory typically precede a cooldown.

That said, investors should keep an eye on the support at $0.334, which, if breached, could spell doom for the meme coin.

Nevertheless, market sentiment remains broadly bullish, though the confluence of stretched technicals, elevated leverage, and robust volume underscores the need for prudent risk management.

Longer-term investors point to WIF’s still-modest market cap of $643 million as evidence that significant upside could materialize if the meme coin rally retains momentum.

Analysts note that WIF’s outperformance relative to benchmarks like Bitcoin (BTC) and Ethereum (ETH) underscores its appeal as a high-beta play within the crypto ecosystem.

As the dust settles, participants will be watching volume profiles, funding rates, and social engagement metrics to gauge whether the current rally can hold or if deeper profit-taking is on the horizon.

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