Note:
I write $x'$ and $y'$
instead of
$dx$ and $dy$
to sort of imply that
the derivative is taken
with respect to
some un-named variable.
From
$(x^2+y^2)^2
=(x^2−y^2)
$,
since
$(f^2)' = 2ff'$,
the ID
(implicit derivative)
of the left side is
$\begin{array}\\
2(x^2+y^2)(x^2+y^2)'
&=2(x^2+y^2)(2xx'+2yy')\\
&=4(x^2+y^2)(xx'+yy')\\
&=4xx'(x^2+y^2)+4yy'(x^2+y^2)\\
\end{array}
$
and the ID of the right side is
$2xx'-2yy'$.
Equating these,
dividing by 2,
and then grouping the terms
with $x'$ and $y'$,
$4xx'(x^2+y^2)+4yy'(x^2+y^2)
=2xx'-2yy'
$
or
$2xx'(x^2+y^2)+2yy'(x^2+y^2)
=xx'-yy'
$
so that
$xx'(2x^2+2y^2-1)+yy'(2x^2+2y^2+1)
=0\\
$
or
$yy'(2x^2+2y^2+1)
=-xx'(2x^2+2y^2-1)
$.
Therefore
$\dfrac{dy}{dx}
=\dfrac{y'}{x'}
=\dfrac{-x(2x^2+2y^2-1)}{y(2x^2+2y^2+1)}
$.
I'll let you handle the rest.