Bitcoin Cash

Cryptocurrency

Bitcoin

Dogecoin

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 <p class="paragraph">The cryptocurrency market went through a massive volatility event in the past 24 hours, first to the upside and later to the downside. High volatility also means high derivatives volume and liquidity, which creates long-liquidations and short-squeeze opportunities.</p>
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 <p class="paragraph">With that in mind, Finbold turned to <em>CoinGlass</em> on November 9 and gathered data about long/short ratios from the top cryptocurrencies.</p>
 <p class="paragraph">In particular, we found two digital assets with relevant imbalances favoring short positions. This extra liquidity might become attractive for market makers to seek short squeezes for November 10.</p>
 <p class="paragraph">However, an increased short imbalance is also seen as a bearish signal, reflecting a negative sentiment for the project moving further. Investors and <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency traders must be capable of analyzing multiple indicators in order to make profitable decisions.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-cash-bch-short-squeeze">Bitcoin Cash (BCH) short squeeze</h2>
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 <p class="paragraph">Bitcoin Cash (BCH) suffered with a major volatility in the day, trading as high as $255.54 but retracing back to $231.69 at the time of publication. Essentially, BCH returned to price levels of a week ago, registering 4.95% losses in the last 24 hours.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/10/d595bd74e91c9355a383108cce8fd792.webp" alt class="wp-image-136604" srcset="https://cdn.thebittimes.com/images/2023/11/10/d595bd74e91c9355a383108cce8fd792.webp 1024w, https://cdn.thebittimes.com/images/2023/11/10/d595bd74e91c9355a383108cce8fd792.webp 300w, https://cdn.thebittimes.com/images/2023/11/10/d595bd74e91c9355a383108cce8fd792.webp 768w, https://cdn.thebittimes.com/images/2023/11/10/d595bd74e91c9355a383108cce8fd792.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH 1-week price chart. Source: Finbold
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 <p class="paragraph">The price retracement brought a dominant bearish sentiment and a meaningful increase in short positions. Notably, Bitcoin Cash has $376.06 million in derivatives betting for lower prices within the next 12 hours. This means a 52.67% imbalance that could trigger a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> for BCH.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="60" src="https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp" alt class="wp-image-136605" srcset="https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp 1024w, https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp 300w, https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp 768w, https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp 1536w, https://cdn.thebittimes.com/images/2023/11/10/cc26be4141aeee4ab4bb5f212937bf1c.webp 2024w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH long/short ratio for 12 and 24 hours. Source: <em>CoinGlass</em>
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 <h2 class="wp-block-heading" id="dogecoin-doge-short-squeeze">Dogecoin (DOGE) short squeeze</h2>
 <p class="paragraph">Meanwhile, Dogecoin (DOGE) has also seen an aggressive retracement from $0.0774 to $0.0716, by press time. Nevertheless, DOGE was able to hold part of its weekly performance.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/10/258ed49c29ea7e20bd54efbde0b70d0e.webp" alt class="wp-image-136606" srcset="https://cdn.thebittimes.com/images/2023/11/10/258ed49c29ea7e20bd54efbde0b70d0e.webp 1024w, https://cdn.thebittimes.com/images/2023/11/10/258ed49c29ea7e20bd54efbde0b70d0e.webp 300w, https://cdn.thebittimes.com/images/2023/11/10/258ed49c29ea7e20bd54efbde0b70d0e.webp 768w, https://cdn.thebittimes.com/images/2023/11/10/258ed49c29ea7e20bd54efbde0b70d0e.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE 1-week price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Despite stronger price support, derivative traders also showed bearish dominance on Dogecoin, with increased short positions that could be <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>d at any time. Interestingly, there is a massive $628.60 million in shorts (52.39%) for a 12-hour time frame and $959.73 million (51.70%) for a 24-hour time frame.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="60" src="https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp" alt class="wp-image-136607" srcset="https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp 1024w, https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp 300w, https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp 768w, https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp 1536w, https://cdn.thebittimes.com/images/2023/11/10/920b97ec50b720c572809a821bfa9dd7.webp 2024w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE long/short ratio for 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Both Dogecoin and Bitcoin Cash have seen high liquidation events in the past against short-sellers. In this context, the bearish dominance could trigger short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>s for both <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> or feed a pivotal downtrend for the rest of the week.</p>
 <p class="paragraph">It is important to say that the recent plummet in price could have been a result of long liquidations.</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-november-10-two-cryptocurrencies-with-potential-to-skyrocket-tbt69718.html">https://thebittimes.com/short-squeeze-alert-for-november-10-two-cryptocurrencies-with-potential-to-skyrocket-tbt69718.html</a></p>

Short squeeze alert for November 10: Two cryptocurrencies with potential to skyrocket

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