Bitcoin Cash

Cryptocurrency

Litecoin

Bitcoin

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 <p class="paragraph">The cryptocurrency market is slightly trending upwards after a brief retracement. Under this observed volatility and sentiment shift, some cryptocurrencies have unbalances in derivatives.</p>
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 <p class="paragraph">These unbalances usually lead to massive liquidations, which can come as a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> for over-shorted assets.</p>
 <p class="paragraph">Notably, Bitcoin (BTC) is testing the $43,000 price zone again. The leading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency lost it on December 11, followed by a rejection last week, from December 13 to 15. Now, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> investors are eagerly awaiting a break-out or a bounce backward.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="661" src="https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp" alt class="wp-image-143940" srcset="https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp 1024w, https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp 300w, https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp 768w, https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp 1536w, https://cdn.thebittimes.com/images/2023/12/19/02ebd23e28d1d6f7ca3764fab5455ae0.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC/USD 4-hourly price chart on Bitstamp. Source: <em>TradingView</em>
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 <p class="paragraph">While most <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> are following the bullish short-term sentiment of Bitcoin, two of its direct competitors are showing a larger volume of opened short positions in the last 12 and 24 hours — against the long positions open interest.&nbsp;</p>
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 <p class="paragraph">In particular, Litecoin (LTC) and Bitcoin Cash (BCH) have a higher weight of short-sellers in these time frames. Finbold retrieved this data from <em>CoinGlass</em> on December 19 to make this short squeeze alert.</p>
 <h2 class="wp-block-heading" id="h-short-squeeze-alert-for-litecoin-ltc">Short squeeze alert for Litecoin (LTC)</h2>
 <p class="paragraph">Litecoin, also known as “digital silver,” instead of Bitcoin’s “digital gold,” is trading at $71.16 by press time. LTC is up 3% in the day but is being heavily shorted compared to all other coins in the top 20.</p>
 <p class="paragraph">Essentially, there were $74.33 million (53.31%) and $154.11 million (52.40%) short positions opened in the last 12 and 24 hours, respectively. This is opposed to $65.11 million and $140.01 million long positions in the same time frames.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="92" src="https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp" alt class="wp-image-143941" srcset="https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp 1024w, https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp 300w, https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp 768w, https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp 1536w, https://cdn.thebittimes.com/images/2023/12/19/032215947651cc22aae3fb972f67c55e.webp 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LTC Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
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 <p class="paragraph">In the meantime, Litecoin is ranked 18th with a $5.26 billion market cap. The 24-hour exchange volume is also only $115 million higher than the shorts, which could soon lead to a short-<a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> event.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="574" height="240" src="https://cdn.thebittimes.com/images/2023/12/19/d9d7106494681db4b7128cbe2af8ab4c.webp" alt class="wp-image-143942" srcset="https://cdn.thebittimes.com/images/2023/12/19/d9d7106494681db4b7128cbe2af8ab4c.webp 574w, https://cdn.thebittimes.com/images/2023/12/19/d9d7106494681db4b7128cbe2af8ab4c.webp 300w" sizes="(max-width: 574px) 100vw, 574px">
  <figcaption class="wp-element-caption">
   Litecoin market cap and volume (24h). Source: <em>CoinMarketCap</em>
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 </figure>
 <h2 class="wp-block-heading" id="bitcoin-cash-bch-short-sellers-could-be-punished">Bitcoin Cash (BCH) short-sellers could be punished</h2>
 <p class="paragraph">Interestingly, the most direct competitor for Bitcoin was also being heavily shorted at the time of writing. Bitcoin Cash is trading at $228.33, with around 3% daily gains and $103.98 million of short positions in the last 24 hours.</p>
 <p class="paragraph">Moreover, $52.46 million of these shorts were opened in the last 12 hours, both accounting for 51.83% and 52.87% of the respective open interest volumes.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="99" src="https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp" alt class="wp-image-143943" srcset="https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp 1024w, https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp 300w, https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp 768w, https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp 1536w, https://cdn.thebittimes.com/images/2023/12/19/cc0616fe7cf6b7d8f69e43b6ed65f20d.webp 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
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 </figure>
 <p class="paragraph">However, BCH is less likely to suffer a short squeeze than LTC, considering both have similar capitalization and exchange volume.&nbsp;</p>
 <p class="paragraph">All things considered, there are no guarantees that such an event will happen with these <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a>. Cryptocurrency traders 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="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-december-19-two-cryptocurrencies-with-potential-to-skyrocket-tbt74164.html">https://thebittimes.com/short-squeeze-alert-for-december-19-two-cryptocurrencies-with-potential-to-skyrocket-tbt74164.html</a></p>

Short squeeze alert for December 19: Two cryptocurrencies with potential to skyrocket

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