Future

Bitcoin

Chainlink

<p style="text-align: justify">After a long period of time, enthusiasm and greed dominate the cryptocurrency markets. Most investors are expecting further growth, and speculation is increasing about the possibility of a bull run for <a href="https://en.coin-turk.com/the-future-of-bitcoin-will-it-drop-to-25000/" data-wpel-link="internal">Bitcoin</a> (BTC) and altcoins in the coming days.</p> 
<p style="text-align: justify">Despite all the recent cryptocurrency events, there has been an increase in short positions lately. It is believed that the increasing short positions in dYdX and LINK indicate a rising downward trend. However, if the overall positive sentiment is re-established, these two significant coins may experience a noticeable increase.</p> 
<h2 style="text-align: justify" id="current-situation-of-dydx-dydx">Current Situation of dYdX (DYDX)</h2> 
<p style="text-align: justify">Interestingly, dYdX has now completed a token migration to its own chain. With the unlocking of a large amount of tokens in DYDX, an increase in short positions has also been observed.</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-285692" src="https://coin-turk.com/wp-content/uploads/2023/12/dydx-coin-turk-com.png" alt="" width="548" height="242"></p> 
<p style="text-align: justify">Those shorting DYDX have attracted attention by opening positions of $173.84 million (54.46%) in the last 12 hours and $301.98 million (53.73%) in one day. Meanwhile, the token is trading at $2.95, down 4.41% at the time of writing.</p> 
<p style="text-align: justify">The total increase in open interest in short positions is 1.37 times higher than the coin’s 24-hour volume of $220.29, representing 34.27% of DYDX’s market value, which is considered a significant reflection of the token’s value. Being one of the coins with the largest long/short position ratios in the market, DYDX may be an attractive candidate for short position squeeze and price increase.</p> 
<h2 style="text-align: justify" id="future-of-chainlink-link">Future of Chainlink (LINK)</h2> 
<p style="text-align: justify">Given that <a href="https://en.coin-turk.com/analysts-alarming-warning-cryptocurrency-markets-will-be-very-different-this-time/" data-wpel-link="internal">Chainlink</a> is used by many protocols in the decentralized <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a> (DeFi) space, it is another attractive candidate. Essentially, a global bull market could increase demand for its solution by reversing the current downward dominance.</p> 
<p style="text-align: justify">The created $675.07 million short position (52%) in the last 24 hours is significant. Even more striking is the $331.54 million position opened in the last 12 hours. Meanwhile, at the time of writing, LINK is trading at $15.62.</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-285693" src="https://coin-turk.com/wp-content/uploads/2023/12/chain-link-15-62.png" alt="" width="769" height="47"></p> 
<p style="text-align: justify">These represent a significant majority compared to the $802 million volume that has increased by 51% as of December 7. LINK currently has a market capitalization of $8.7 billion. Increased demand for altcoins may pave the way for the expected short squeeze.</p> 
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-285694" src="https://coin-turk.com/wp-content/uploads/2023/12/link-8-7.png" alt="" width="556" height="233"></p> 
<p style="text-align: justify">All in all, despite all the emerging situations, a guarantee cannot be given that there will be a short squeeze in cryptocurrencies.</p> 
<div class="sorumluluk_reddi" style="text-align: justify">
 <strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and should conduct their trades based on their own research.
</div> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/increased-short-positions-in-dydx-dydx-and-chainlink-link-may-signal-potential-bull-runs-for-cryptocurrencies/" data-wpel-link="internal">https://en.coin-turk.com/increased-short-positions-in-dydx-dydx-and-chainlink-link-may-signal-potential-bull-runs-for-cryptocurrencies/</a>

Increased Short Positions in dYdX (DYDX) and Chainlink (LINK) May Signal Potential Bull Runs for Cryptocurrencies

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