Bitcoin Cash

Cryptocurrency

Solana

<div class="finbold"> 
 <p class="paragraph">An altseason is brewing in the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market, with most <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies showing bullish signals. Most projects now have a balanced long/short ratio in the derivative market, which hardens the likelihood of a short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> event.</p> 
 <div></div>
 <p class="paragraph">Looking into data by <em>CoinGlass</em> on December 8, Finbold spotted two particular cryptocurrencies with a slightly higher weight towards short positions. Essentially, short-sellers dominance usually indicates a bearish sentiment but also creates an appealing upward liquidity for short squeezes.</p> 
 <p class="paragraph">In particular, BNB Chain (BNB) and Bitcoin Cash (BCH) show an open interest heavily weighted toward shorts over long positions in both the 12 and 24-hour time frames. If an altseason really occurs, these two digital assets could face a short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>.</p> 
 <h2 class="wp-block-heading" id="h-bnb-chain-bnb-short-squeeze-alert">BNB Chain (BNB) short squeeze alert</h2> 
 <p class="paragraph">Notably, uncertainty over the cryptocurrency exchange Binance also affects the BNB’s performance. This impact can be observed in a dominant bearish indicator for open short positions in derivatives.</p> 
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"> 
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/08/387b1aebb8bc123d983ab3c3537a7934.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="solana-to-the-moon-crypto-expert-predicts-sol-at-90"> Solana to the moon? Crypto expert predicts SOL at $90 </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/08/157618fbf6cda6854a21376d673c876f.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="tokensoft-teams-up-with-chainwire-for-crypto-pr-distribution"> Tokensoft teams up with Chainwire for crypto PR distribution </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/08/9ab4eca19821d71cd6053979c1215156.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-outperforms-ethereum-in-2023-despite-legal-troubles"> XRP outperforms Ethereum in 2023 despite legal troubles </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/07/6d46f14028baf73a99de67d37d57d66a.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="top-altcoins-to-watch-right-now"> Top altcoins to watch right now </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/12/08/e453da12f9ab3bc234387a2a65eab731.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="robinhood-introduces-cryptocurrency-trading-app-in-europe"> Robinhood introduces cryptocurrency trading app in Europe </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment"> 
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;"> 
  </div> 
 </div> 
 <p class="paragraph">The native BNB Chain token is trading at $234.57 by press time, with 52% of shorts dominance. Respectively, there are $194.05 million and $331.90 million in open short positions in the last 12 and 24 hours.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="57" src="https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp" alt class="wp-image-142139" srcset="https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/18d6ee61ea9dac51a6e0b5db3ea80b96.webp 1950w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BNB Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure> 
 <h2 class="wp-block-heading" id="bitcoin-cash-bch-short-sellers-could-be-liquidated">Bitcoin Cash (BCH) short-sellers could be liquidated</h2> 
 <p class="paragraph">In the meantime, Bitcoin Cash is another highly shorted <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency. For that reason, it has also experienced aggressive short <a rel="dofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>s in the past, which could occur again under the right conditions.</p> 
 <p class="paragraph">Interestingly, there are $150.43 million of opened short positions in the last 24 hours. Out of which, $66.23 million happened in the last 12 hours, for 53.73% of this time frame open interest.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="50" src="https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp" alt class="wp-image-142140" srcset="https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/5a6ad03d83bcd695acb3c181734e9eaa.webp 1940w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure> 
 <p class="paragraph">A short squeeze occurs when these bearish positions get liquidated, facing a surge in demand and price. The increased demand causes a high volume of buy orders to liquidate exchange books, pumping the price and triggering derivative contracts for liquidation, driving the price even further.</p> 
 <p class="paragraph">However, there are no guarantees that a short squeeze will happen with these cryptocurrencies. 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> 
 <p class="paragraph"> </p>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-december-8-two-cryptocurrencies-with-potential-to-skyrocket-tbt73079.html">https://thebittimes.com/short-squeeze-alert-for-december-8-two-cryptocurrencies-with-potential-to-skyrocket-tbt73079.html</a></p>

Short squeeze alert for December 8: Two cryptocurrencies with potential to skyrocket

Table of Contents

TheBitTimes

Other articles published on Dec 8, 2023

Terra Luna Founder Do Kwon Faces Imminent Extradition to the U.S

Meta Launches New AI Tools Across Facebook, WhatsApp, And Instagram

Ethereum rising and ETH/BTC outperforms Bitcoin, investors turn to ERC-20 tokens

Bitcoin Continues to Fluctuate: What’s the Latest on Shiba Coin?

Top 3 Cryptocurrencies to Watch Under $0.50: Mid-December 2023

Senator Elizabeth Warren calls crypto a ‘new threat’

Join our free newsletter for daily crypto updates!