Bitcoin Cash

Cryptocurrency

Bitcoin

Avalanche

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/recent-developments-in-the-cryptocurrency-market-3/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Recent Developments in the Cryptocurrency Market</a><br></p>
<p style="text-align: justify"><a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Investors</a> who have been short-selling cryptocurrencies can arguably be considered to have been in a profitable position over the last two months, following the market downturn that began in March. Despite this, the coming week shows potential for short squeezes and price increases in two cryptocurrencies.</p>
<h2 style="text-align: justify" id="what-s-happening-in-the-crypto-market">What’s Happening in the Crypto Market?</h2>
<p style="text-align: justify">Recent events in the <a href="https://en.coin-turk.com/fetch-ai-and-singularitynet-the-rising-stars-of-the-ai-sector/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a> have led to significant deviations in charts and key technical indicators, signaling a potential trend reversal. This situation is increasingly strengthening the outlook for a short squeeze, which could push prices upward.</p>
<p style="text-align: justify">Negative funding rates, increasing volumes of short positions, and growing liquidation pools linked to these short positions are thought to potentially trigger a price rise.</p>
<p style="text-align: justify">On the other hand, recent news from India regarding Binance and KuCoin could also significantly impact the market. In light of all these factors, cryptocurrencies in the derivatives market showing significant discrepancies are thought to potentially be among the first to rise.</p>
<h2 style="text-align: justify" id="will-avalanche-avax-price-increase">Will Avalanche (AVAX) Price Increase?</h2>
<p style="text-align: justify">Avalanche (AVAX) continues to be one of the most notable cryptocurrencies in the market today. AVAX appears to have the potential for a short squeeze next week, which could rapidly increase its price.</p>
<p style="text-align: justify">One of the main reasons for this outlook is the weekly open interest situation. Investors on the AVAX side continue to closely monitor this indicator for short positions.</p>
<p style="text-align: justify"><img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-350424" src="https://coin-turk.com/wp-content/uploads/2024/05/avax-1-coin-turk-com.png" alt="" width="859" height="422"></p>
<p style="text-align: justify">Emerging data and recent views have led to an increase in negative funding rates on the AVAX side, and <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">investors</a> short-selling are paying a 5.8% APR to those in long positions. This data, along with other important information, was revealed using the May 11th CoinGlass data.</p>
<p style="text-align: justify">Avalanche’s (AVAX) liquidation heat map for the past month indicates a critical liquidity pool at the $40 level, which could trigger a short squeeze.</p>
<p style="text-align: justify">A potential price rally at the current level could trigger a rapid gain of over 17% for AVAX investors, considering the current price level of $34, and could lead to the liquidation of market short positions.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-350423" src="https://coin-turk.com/wp-content/uploads/2024/05/avax-2-coin-turk-com.png" alt="" width="866" height="446"></p>
<h2 style="text-align: justify" id="watch-out-for-bitcoin-cash-bch-prices">Watch Out for Bitcoin Cash (BCH) Prices</h2>
<p style="text-align: justify">Similarly, Bitcoin Cash (BCH) also stands out with a negative funding rate. BCH’s negative funding rate points to a significant value of 10.06%, showing one of the highest open <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">interest rates</a> currently in the market.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-350422" src="https://coin-turk.com/wp-content/uploads/2024/05/bch-1-coin-turk-com.png" alt="" width="858" height="430"></p>
<p style="text-align: justify">Meanwhile, a short squeeze on the BCH side could reach the previous liquidation target of $500 and then move to $625. Considering that Bitcoin Cash is currently trading at $430, this situation could bring gains between 16% and 45%.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-350421 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bch-2-coin-turk-com.png" alt="" width="859" height="439"></p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/recent-developments-in-the-cryptocurrency-market-3/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Recent Developments in the Cryptocurrency Market</a></h5>

Recent Developments in the Cryptocurrency Market

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