Cryptocurrency

Arbitrum

Avalanche

<div class="finbold">
 <p class="paragraph">Short positions in two <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> have risen in the past 12 to 24 hours, indicating a bearish sentiment in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market; however, this volume may lead to short-<a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> opportunities for bullish traders.</p>
 <div></div>
 <p class="paragraph">Particularly, Avalanche (AVAX) and Arbitrum (ARB) are showing a relevant weight of opened shorts over the total long positions in the derivative market. Both open interest capitalization also accrues for a meaningful amount of each 24-hour spot volume and market cap.</p>
 <p class="paragraph">Finbold retrieved this data from <em>CoinGlass</em> on November 28, looking for possible short-squeeze events in a 12 to 24-hour time frame.</p>
 <h2 class="wp-block-heading" id="h-short-squeeze-alert-for-avalanche-avax"><strong>Short squeeze alert for Avalanche (AVAX)</strong></h2>
 <p class="paragraph">In the last 12 hours, Avalanche registered $127.01 million in long positions and $141.14 million in short positions (52.63%). The 24-hour time frame also saw a similar weight of $274.06 million shorts (52.14%) over the $251.55 million longs.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="47" src="https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp" alt class="wp-image-140097" srcset="https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp 1024w, https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp 300w, https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp 768w, https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp 1536w, https://cdn.thebittimes.com/images/2023/11/28/1c218c48d5a92a3ad587d6bc1c8456f0.webp 1996w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   AVAX Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
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 </figure>
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 <p class="paragraph">Interestingly, AVAX was changing hands by $20.36 per token at the time of publication, with shy daily gains of 0.57%. This divergence of price action and increased shorts interest might create the proper scenario for a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p>
 <p class="paragraph">Moreover, the short-positions capitalization accrues for 80% of the $336.23 million daily exchanged volume for AVAX, according to <em>CoinMarketCa</em>p.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="556" height="228" src="https://cdn.thebittimes.com/images/2023/11/28/920b6c58d97cf7b84e82393601b431dd.webp" alt class="wp-image-140098" srcset="https://cdn.thebittimes.com/images/2023/11/28/920b6c58d97cf7b84e82393601b431dd.webp 556w, https://cdn.thebittimes.com/images/2023/11/28/920b6c58d97cf7b84e82393601b431dd.webp 300w" sizes="(max-width: 556px) 100vw, 556px">
  <figcaption class="wp-element-caption">
   Avalanche market cap and volume (24h). Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="strong-arbitrum-arb-short-squeeze-or-bearish-signal-strong"><strong>Arbitrum (ARB) short squeeze or bearish signal?</strong></h2>
 <p class="paragraph">Meanwhile, Arbitrum has $110.22 million of short positions opened in the last 24 hours (53.32%), against $96.49 million longs. The 12-hour long/short ratio is even higher for shorts, with 54% of all interests betting on a bearish outcome.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="49" src="https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp" alt class="wp-image-140099" srcset="https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp 1024w, https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp 300w, https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp 768w, https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp 1536w, https://cdn.thebittimes.com/images/2023/11/28/96682fdd940eaac2886ac1c2f7b2686e.webp 1984w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ARB Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">However, ARB derivatives are also indicating a divergence with the token’s price action, trading at $1.01 with 1.14% gains in the day. Unlike Avalanche, Arbitrum shorts are 55% of the $198.50 million daily volume.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="558" height="230" src="https://cdn.thebittimes.com/images/2023/11/28/daf35aeb25063479214fb227440c44dd.webp" alt class="wp-image-140100" srcset="https://cdn.thebittimes.com/images/2023/11/28/daf35aeb25063479214fb227440c44dd.webp 558w, https://cdn.thebittimes.com/images/2023/11/28/daf35aeb25063479214fb227440c44dd.webp 300w" sizes="(max-width: 558px) 100vw, 558px">
  <figcaption class="wp-element-caption">
   Avalanche market cap and volume (24h). Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">In this case, the divergence is less likely to start a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> and could represent a trend reversal for ARB unless sentiment shifts. Nevertheless, the high weight against longs could incentivize market makers to hunt this available liquidity.</p>
 <p class="paragraph">It is important to say that there are no guarantees that a short squeeze will happen with these cryptocurrencies. Crypto investors must do their own research and consider other data to make profitable financial decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-november-29-two-cryptocurrencies-with-potential-to-skyrocket-tbt71948.html">https://thebittimes.com/short-squeeze-alert-for-november-29-two-cryptocurrencies-with-potential-to-skyrocket-tbt71948.html</a></p>

Short squeeze alert for November 29: Two cryptocurrencies with potential to skyrocket

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