Chain News Daily Official TheBitTimes.com

Bybit, one of the world’s leading cryptocurrency exchanges, warns about a possible supply shock for Bitcoin (BTC). The alert comes amid high expectations for the Bitcoin halving and a record diminishing BTC supply on exchanges. On April 15, Bybit published a report making bold claims regarding Bitcoin’s available supply in the cryptocurrency market. According to the company’s research team, the 2 million BTC standing in exchange reserves will only last for nine more months . Bitcoin exchange reserves. Source: CryptoQuant/Bybit For that outcome, Bybit assumes a daily inflow of $500 million to Bitcoin Spot ETFs. This would hypothetically result in a 7,142 BTC outflow from exchanges, ending within the 9-month suggested period. Picks for you Japanese Yen (JPY) struggles at a 34-year low against the U.S. Dollar 20 mins ago MANTRA’s incubation program launched at the Dubai World Trade Center 54 mins ago Nimiq Pay to transform the crypto payment l...

Bitcoin (BTC) and most of the top crypto currencies experienced a price retracement earlier this week. With a momentary sentiment shift from bullish to bearish, short positions increased in the crypto currency market. In this context, Finbold retrieved data from CoinGlass’s long/short ratio on December 12. Interestingly, two crypto currencies could face an imminent short squeeze , driving prices upwards amid the shifting market movements. Particularly, Uniswap (UNI) and Aave (AAVE) have seen a relevant increase in the opened short positions in the last 12 and 24 hours. Both are among the most popular decentralized finance (DeFi) protocols with multi-chain support. Short squeeze alert for Uniswap (UNI) Uniswap has the most relevant short-sellers volume and short position weight against the opened long positions. In the 12-hour time frame, UNI registers $39.14 million shorts over the $32.83 million longs, for 54.39% of the former. UNI Long/Short ratio on 12 and 24 hours. Sour...