Bitcoin Cash

Cryptocurrency

Solana

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 <p class="paragraph">An altseason is brewing in the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market, with most <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies showing bullish signals. Most projects now have a balanced long/short ratio in the derivative market, which hardens the likelihood of a short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> event.</p> 
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 <p class="paragraph">Looking into data by <em>CoinGlass</em> on December 8, Finbold spotted two particular cryptocurrencies with a slightly higher weight towards short positions. Essentially, short-sellers dominance usually indicates a bearish sentiment but also creates an appealing upward liquidity for short squeezes.</p> 
 <p class="paragraph">In particular, BNB Chain (BNB) and Bitcoin Cash (BCH) show an open interest heavily weighted toward shorts over long positions in both the 12 and 24-hour time frames. If an altseason really occurs, these two digital assets could face a short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p> 
 <h2 class="wp-block-heading" id="h-bnb-chain-bnb-short-squeeze-alert">BNB Chain (BNB) short squeeze alert</h2> 
 <p class="paragraph">Notably, uncertainty over the cryptocurrency exchange Binance also affects the BNB’s performance. This impact can be observed in a dominant bearish indicator for open short positions in derivatives.</p> 
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 <p class="paragraph">The native BNB Chain token is trading at $234.57 by press time, with 52% of shorts dominance. Respectively, there are $194.05 million and $331.90 million in open short positions in the last 12 and 24 hours.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="57" src="https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp" alt class="wp-image-142139" srcset="https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1950w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BNB Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
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 </figure> 
 <h2 class="wp-block-heading" id="bitcoin-cash-bch-short-sellers-could-be-liquidated">Bitcoin Cash (BCH) short-sellers could be liquidated</h2> 
 <p class="paragraph">In the meantime, Bitcoin Cash is another highly shorted <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. For that reason, it has also experienced aggressive short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>s in the past, which could occur again under the right conditions.</p> 
 <p class="paragraph">Interestingly, there are $150.43 million of opened short positions in the last 24 hours. Out of which, $66.23 million happened in the last 12 hours, for 53.73% of this time frame open interest.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="50" src="https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp" alt class="wp-image-142140" srcset="https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1940w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure> 
 <p class="paragraph">A short squeeze occurs when these bearish positions get liquidated, facing a surge in demand and price. The increased demand causes a high volume of buy orders to liquidate exchange books, pumping the price and triggering derivative contracts for liquidation, driving the price even further.</p> 
 <p class="paragraph">However, 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> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-december-8-two-cryptocurrencies-with-potential-to-skyrocket-tbt73079.html">https://thebittimes.com/short-squeeze-alert-for-december-8-two-cryptocurrencies-with-potential-to-skyrocket-tbt73079.html</a></p>

Short squeeze alert for December 8: Two cryptocurrencies with potential to skyrocket

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