Bitcoin Cash

2024

Litecoin

<div class="finbold">
 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market remains neutral, led by Bitcoin’s (BTC) apparent consolidation phase. In the meantime, two <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies present a relevant <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a> for a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> as the week develops.</p>
 <p class="paragraph">The recent week’s geopolitical tensions have caused market turmoil, dropping the prices and the overall sentiment regarding cryptocurrencies. In a suddenly bearish landscape, crypto traders started to open leveraged short positions, which might backfire.</p>
 <p class="paragraph">Interestingly, whenever traders open a short position, they leave liquidity behind in the form of collateral assets that the crypto exchange can liquidate if the underlying asset’s price rises to an agreed-upon target. The sequential liquidation of multiple short positions drives the price upwards, and traders know it as a short squeeze.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <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"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    AI predicts Ethereum price for May 1, 2024 <span class="self-center text-xs text-slate-500">34 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    AI predicts Dogecoin price for May 1, 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin price prediction post-halving; What's next for BTC? <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? This $1 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency could surge as Bitcoin fees skyrocket <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </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">In particular, Litecoin (LTC) and Bitcoin Cash (BCH) have meaningful liquidity pools at higher prices. Bitcoin record fees above $100 could trigger a surge for these alternative coins, similar to the reported $1 feeless opportunity.</p>
 <h2 class="wp-block-heading" id="h-litecoin-ltc">Litecoin (LTC)</h2>
 <p class="paragraph">First, Litecoin trades at $82.51, with a slightly positive intraday of 1.71% gains, data from <em>CoinGlass</em> shows. Nevertheless, short-sellers dominate the 24-hour volume with $188.34 million positions opened, for 51.54% of the total volume.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="88" src="https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp" alt class="wp-image-170534" srcset="https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp 1024w, https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp 300w, https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp 768w, https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp 1536w, https://cdn.thebittimes.com/images/2024/04/21/486252a1de94eacc22d6818e2819ee3a.webp 1674w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Derivatives market, LTC. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">As a result, LTC has millions of dollars in liquidity pools that are close to the $100 psychological level. Therefore, a short squeeze from the current prices to this likely resistance would reward investors with over 21% gains.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="532" src="https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp" alt class="wp-image-170535" srcset="https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp 1024w, https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp 300w, https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp 768w, https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp 1536w, https://cdn.thebittimes.com/images/2024/04/21/afe1eab07bd7c338e6f998004c9697c4.webp 1832w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   LTC Liquidation Heatmap, 1-month chart. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="bitcoin-cash-bch">Bitcoin Cash (BCH)</h2>
 <p class="paragraph">Second, Bitcoin Cash is another strong competitor that can benefit from the environment of skyrocketing fees for Bitcoin.</p>
 <p class="paragraph">Yet, unlike Litecoin’s $100 accumulated liquidations, BCH has a higher spread among multiple liquidity pools, from $500 to $740. A short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> rally through this range has the huge <a rel="noopener noreferrer nofollow" title="potential" href="https://thebittimes.com/tag/potential.html">potential</a> of 40% gains for Bitcoin Cash investors.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="530" src="https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp" alt class="wp-image-170541" srcset="https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp 1024w, https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp 300w, https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp 768w, https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp 1536w, https://cdn.thebittimes.com/images/2024/04/21/3c6327a70f24b4ecbf241a6dbebfe43f.webp 1834w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BCH Liquidation Heatmap, 1-month chart. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">However, the cryptocurrency market changes every minute, and the liquidity pools mentioned can disappear if traders voluntarily close their positions. Understanding cryptocurrencies’ volatile nature is crucial to navigating the leveraged derivatives market.</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-two-cryptocurrencies-with-huge-potential-next-week-tbt85894.html">https://thebittimes.com/short-squeeze-alert-two-cryptocurrencies-with-huge-potential-next-week-tbt85894.html</a></p>

Short squeeze alert: Two cryptocurrencies with huge potential next week

Table of Contents

TheBitTimes

Other articles published on Apr 20, 2024

A Player on Animal Crossing: New Horizons Creates an Incredible Vineyard on Their Island

Bitcoin Halving Seen as ‘Buy the News’ Event: Bitwise CIO

Unraveling the Impact of Bitcoin Halving on BTC Scarcity

Retik Finance (RETIK): The DeFi Game-Changer Crushing Polkadot (DOT) and Polygon (MATIC), How hig...

Amazon CEO Highlights AI’s Role in Consumer Strategy and Ad Growth

Attention SHIB, XRP, BTC Holders: Key Update for Binance Users

Join our free newsletter for daily crypto updates!