Short squeeze alert for December 8: Two cryptocurrencies with potential to skyrocket
An altseason is brewing in the crypto currency market, with most crypto currencies showing bullish signals. Most projects now have a balanced long/short ratio in the derivative market, which hardens the likelihood of a short squeeze event. Looking into data by CoinGlass 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. 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 squeeze . BNB Chain (BNB) short squeeze alert 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 sh...