Cryptocurrency

Uniswap

Filecoin

<div class="finbold">
 <p class="paragraph">A bearish sentiment is dominating two cryptocurrencies with an increased number of short positions recently opened. If sentiment shifts, short squeezes might become likely events for the next hours or days.</p>
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 <p class="paragraph">Particularly, the two mentioned <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies are Filecoin (FIL) and Uniswap (UNI), with relevant open interest from short-sellers.</p>
 <p class="paragraph">In order to evaluate the short squeeze risk and opportunity, Finbold gathered derivative market data from <em>CoinGlass</em> on November 30. Notably, their volume is heavily weighted toward shorts over long positions in both the 12 and 24-hour time frames.</p>
 <h2 class="wp-block-heading" id="h-short-squeeze-alert-for-filecoin-fil"><strong>Short squeeze alert for Filecoin (FIL)</strong></h2>
 <p class="paragraph">In the last 12 hours, Filecoin registered $53.44 million in long positions and $61.49 million in short positions (53.5%). The 24-hour time frame shows a similar weight of $102.32 million shorts (53.52%) over the $88.87 million longs.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="47" src="https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp" alt class="wp-image-140645" srcset="https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp 1024w, https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp 300w, https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp 768w, https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp 1536w, https://cdn.thebittimes.com/images/2023/12/01/23fb7754e3a8cdc4a3c2b33fac1f47b2.webp 1948w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   FIL Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
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 <p class="paragraph">Interestingly, FIL was changing hands by $4.38 per token at the time of publication, with 1% losses in the day. This evidences a slightly bearish sentiment, feeding short-sellers greed and creating liquidity upwards through a possible short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p>
 <p class="paragraph">Moreover, the 24-hour short-positions capitalization is higher than its $90.96 million daily exchanged volume, according to <em>CoinMarketCa</em>p.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="566" height="234" src="https://cdn.thebittimes.com/images/2023/12/01/2ade221fa7aa41370bdf2ad6d4d01eda.webp" alt class="wp-image-140646" srcset="https://cdn.thebittimes.com/images/2023/12/01/2ade221fa7aa41370bdf2ad6d4d01eda.webp 566w, https://cdn.thebittimes.com/images/2023/12/01/2ade221fa7aa41370bdf2ad6d4d01eda.webp 300w" sizes="(max-width: 566px) 100vw, 566px">
  <figcaption class="wp-element-caption">
   Filecoin market cap and volume (24h). Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="uniswap-uni-could-skyrocket-with-upwards-liquidity">Uniswap (UNI) could skyrocket with upwards liquidity</h2>
 <p class="paragraph">Meanwhile, Uniswap has $102.39 million of short positions opened in the last 24 hours (52.42%), against $92.93 million longs. The 12-hour long/short ratio shows 54% of all current open interest betting on a bearish outcome.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="46" src="https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp" alt class="wp-image-140647" srcset="https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp 1024w, https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp 300w, https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp 768w, https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp 1536w, https://cdn.thebittimes.com/images/2023/12/01/014df1c60022108a940f66c29c777df5.webp 1934w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   UNI Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Like Filecoin, UNI is trading with 1.27% daily losses at $5.93 per token. However, its 24-hour volume is two times the size of its opened short positions in the same time frame.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="554" height="238" src="https://cdn.thebittimes.com/images/2023/12/01/9af623b709ae0f98bbddec86dfa58a9f.webp" alt class="wp-image-140648" srcset="https://cdn.thebittimes.com/images/2023/12/01/9af623b709ae0f98bbddec86dfa58a9f.webp 554w, https://cdn.thebittimes.com/images/2023/12/01/9af623b709ae0f98bbddec86dfa58a9f.webp 300w" sizes="(max-width: 554px) 100vw, 554px">
  <figcaption class="wp-element-caption">
   Uniswap market cap and volume (24h). Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">In this case, the available liquidity is less appealing to trigger a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> and could keep the downtrend for Uniswap. Nevertheless, the high weight against longs could incentivize market makers to hunt shorts despite the proportionally low volume.</p>
 <p class="paragraph">It is important to say that there are no guarantees that a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> will happen with these <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. 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="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-december-1-two-cryptocurrencies-with-potential-to-skyrocket-tbt72239.html">https://thebittimes.com/short-squeeze-alert-for-december-1-two-cryptocurrencies-with-potential-to-skyrocket-tbt72239.html</a></p>

Short squeeze alert for December 1: Two cryptocurrencies with potential to skyrocket

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Ďalšie články zverejnené 30. 11. 2023

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