Litecoin

Gold

April

<div class="finbold">
 <p class="paragraph">A sentiment shift took place in the cryptocurrency market, pivoting from mostly bullish to mostly bearish in a few days. A $230 billion crash in 24 hours liquidated over 240,000 traders in more than $500 million long positions.</p>
 <p class="paragraph">In this context, cryptocurrencies saw a relevant increase in the volume of short positions, creating imbalances that now threaten a short squeeze. If the open interest remains dominated by Bitcoin short-sellers, they could be the next victims of massive liquidations.</p>
 <p class="paragraph">Nevertheless, such a state can create opportunities for savvy traders who know where to look. For this reason, Finbold turned to liquidation data on <em>CoinGlass</em> and identified three cryptocurrencies likely to experience a short squeeze.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <h2 class="wp-block-heading" id="h-short-<a rel=" dofollow title="squeeze" href="https://thebittimes.com/tag/squeeze.html" rel="noopener noreferrer nofollow">squeeze-<a rel="noopener noreferrer nofollow" title="alert" href="https://thebittimes.com/tag/alert.html">alert</a>-for-bitcoin-btc"&gt;Short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> <a rel="noopener noreferrer nofollow" title="alert" href="https://thebittimes.com/tag/alert.html">alert</a> for Bitcoin (BTC)</h2>
 <p class="paragraph">Bitcoin (BTC) is the first cryptocurrency to trigger a short-<a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> <a rel="noopener noreferrer nofollow" title="alert" href="https://thebittimes.com/tag/alert.html">alert</a> with now accumulated liquidity to the upside.</p>
 <p class="paragraph">In particular, <em>CoinGlass</em>’s weekly chart shows concentrated short-sellers liquidations at $74.346, which can become a target. Yet, there are smaller liquidity pools at other levels and a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> could drive the price above $75,000.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="556" src="https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp" alt class="wp-image-162188" srcset="https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp 1024w, https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp 300w, https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp 768w, https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp 1536w, https://cdn.thebittimes.com/images/2024/03/20/eafc05c9dc8a6c27ba5c1bff85a3a7c7.webp 1830w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC weekly liquidation heatmap. Source: <em>CoinGlass</em>
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 </figure>
 <p class="paragraph">Additionally, <em>MartyParty</em> spotted $8.1 billion of liquidations at $75,500, making it a relevant zone to consider.</p>
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    <p lang="en" dir="ltr">There are now $8.1b worth of shorts to liquidate at Bitcoin $75500 pic.twitter.com/SYkS537TlU</p>— MartyParty (@martypartymusic) March 19, 2024
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 <h2 class="wp-block-heading" id="litecoin-ltc">Litecoin (LTC)</h2>
 <p class="paragraph">The second most likely cryptocurrency to see a short squeeze is Litecoin (LTC), with a proportionally high accumulation of short positions.</p>
 <p class="paragraph">Notably, market makers could first target a liquidity pool above $95. Next, meaningful liquidations await the bloodbath in the $100 region, which plays an important psychological resistance.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="556" src="https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp" alt class="wp-image-162189" srcset="https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp 1024w, https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp 300w, https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp 768w, https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp 1536w, https://cdn.thebittimes.com/images/2024/03/20/009a191b04f0a2e87df504b9d2b48796.webp 1830w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LTC weekly liquidation heatmap. Source: <em>CoinGlass</em>
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 </figure>
 <h2 class="wp-block-heading" id="ethereum-eth">Ethereum (ETH)</h2>
 <p class="paragraph">Meanwhile, Ethereum (ETH) also has some pump potential with many liquidity pools to the upside. However, ETH’s liquidation volume is proportionally smaller, weighted to its market cap and historical liquidations.</p>
 <p class="paragraph">Still, some price levels gain the spotlight with higher leverage margin calls. On that, $3,600, $3,700, and above $4,000 are likely targets for a short squeeze.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp" alt class="wp-image-162190" srcset="https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp 1024w, https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp 300w, https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp 768w, https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp 1536w, https://cdn.thebittimes.com/images/2024/03/20/9541a6725d1f548f6355f977721adb10.webp 1830w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH weekly liquidation heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">As observed, opening leveraged short positions exposes traders to liquidations and incentivizes the market to go in the opposite direction of what most speculators are biased toward.</p>
 <p class="paragraph">The cryptocurrency market is highly volatile and professional traders take advantage of this nature to increase their profits. Therefore, caution is needed when speculating and trading <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a>.</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>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-3-cryptocurrencies-with-pump-potential-this-week-tbt82967.html">https://thebittimes.com/short-squeeze-alert-3-cryptocurrencies-with-pump-potential-this-week-tbt82967.html</a></p>

Short squeeze alert: 3 cryptocurrencies with pump potential this week

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