2024

when

Chainlink

<div class="finbold">
 <p class="paragraph">In the dynamic <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency landscape, each opened short position leaves liquidity pools behind, which can cause short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>s. Therefore, traders can look for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies with an increased volume of shorts for <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a> pump opportunities.</p>
 <p class="paragraph">The crypto market has shifted to a dominating bullish sentiment amid a notable rally. However, some cryptocurrencies are still attracting bearish short-sellers, which can soon become market makers’ targets.</p>
 <p class="paragraph">Finbold gathered data from <em>CoinGlass</em> on February 27 to analyze the derivatives market. In particular, we found two potential cryptocurrencies for a short squeeze next week due to relevant liquidity pools upwards.</p>
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  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <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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 <p class="paragraph">Essentially, short-sellers borrow a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency to sell in the market. They profit by re-purchasing it at lower prices when they close the position – voluntarily or not.</p>
 <h2 class="wp-block-heading" id="h-short-squeeze-alert-for-worldcoin-wld-nbsp">Short squeeze alert for WorldCoin (WLD)&nbsp;</h2>
 <p class="paragraph">WorldCoin (WLD) is still attracting a significant number of short-sellers despite the market’s overall positive sentiment. Currently, the open interest for WLD derivatives is at $319.56 million for $30 of its $1.07 billion capitalization.</p>
 <p class="paragraph">Meanwhile, traders opened $1.75 billion of short positions against the WorldCoin, for 51.35% of its 24-hour volume.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="85" src="https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp" alt class="wp-image-157467" srcset="https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp 1024w, https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp 300w, https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp 768w, https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp 1536w, https://cdn.thebittimes.com/images/2024/02/27/a53724dfdfb32c1f365979cbdcdcd25c.webp 2008w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   WLD derivatives and open interest data. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">This action has left some liquidity above $9 per token. Thus, a <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a> short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> could pump the price over 15% from the $7.78 by press time.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="550" src="https://cdn.thebittimes.com/images/2024/02/27/26ac27e492709944307e3c7a7aa8f5c6.webp" alt class="wp-image-157468" srcset="https://cdn.thebittimes.com/images/2024/02/27/26ac27e492709944307e3c7a7aa8f5c6.webp 1024w, https://cdn.thebittimes.com/images/2024/02/27/26ac27e492709944307e3c7a7aa8f5c6.webp 300w, https://cdn.thebittimes.com/images/2024/02/27/26ac27e492709944307e3c7a7aa8f5c6.webp 768w, https://cdn.thebittimes.com/images/2024/02/27/26ac27e492709944307e3c7a7aa8f5c6.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   WLD 1-week liquidation heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="chainlinks-link-pump-potential">Chainlink’s (LINK) pump potential</h2>
 <p class="paragraph">In the meantime, Chainlink (LINK) continues to show massive liquidity pools in the price range between $20 to $21. These liquidations are mostly evident on the monthly heatmap, now closer to the current levels at $19.</p>
 <p class="paragraph">Nevertheless, traders are starting to shift their bets, creating relevant downside liquidity. The question is which of these pools market makers will target first.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="551" src="https://cdn.thebittimes.com/images/2024/02/27/2f0927c85183a9855c2a2a5ebed76b02.webp" alt class="wp-image-157469" srcset="https://cdn.thebittimes.com/images/2024/02/27/2f0927c85183a9855c2a2a5ebed76b02.webp 1024w, https://cdn.thebittimes.com/images/2024/02/27/2f0927c85183a9855c2a2a5ebed76b02.webp 300w, https://cdn.thebittimes.com/images/2024/02/27/2f0927c85183a9855c2a2a5ebed76b02.webp 768w, https://cdn.thebittimes.com/images/2024/02/27/2f0927c85183a9855c2a2a5ebed76b02.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LINK 1-week liquidation heatmap. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">On that note, Chainlink recently broke the $100 million TVS, according to Michaël van de Poppe, who believes “slow accumulation is probably a wise decision” on LINK.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Oracles are slowly, but surely waking up. I think that $LINK is going to do well.<br><br>In advance, I suspect that $API3 is going to follow suit.<br><br>Currently down 20% from its recent peak, so a slow accumulation is probably a wise decision.<br><br>Broke $100M TVS as well! pic.twitter.com/HS1XXZ43wO</p>— Michaël van de Poppe (@CryptoMichNL) February 27, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Interestingly, the Bitcoin (BTC) leading a bull rally can be the extra fuel needed to trigger these short squeezes. Opening shorts is risky at this moment because the market can move quickly and liquidate traders for huge losses.</p>
 <p class="paragraph">However, sentiments can shift as quickly as price, and investors must always trade cautiously and understand the reasons for a dominating short position, which might have a fundamental justification.</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-for-this-week-two-cryptocurrencies-with-potential-pump-tbt80955.html">https://thebittimes.com/short-squeeze-alert-for-this-week-two-cryptocurrencies-with-potential-pump-tbt80955.html</a></p>

Short squeeze alert for this week: Two cryptocurrencies with potential pump

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