Chain News Daily Official TheBitTimes.com

The cryptocurrency open interest volume has skyrocketed to record highs, bringing huge volatility to derivatives and spot markets. While traders bet on the outcome of cryptocurrencies like Bitcoin (BTC) and XRP, they leave positions behind, threatening liquidations. In particular, the current bullish momentum has fueled traders’ greed and encouraged the opening of long positions. This trend is gaining strength, and multiple indicators suggest a long squeeze could be incoming for top-traded assets. Finbold turned to different sources and found relevant long- squeeze alerts in the market, with special attention to the leading cryptocurrency, Bitcoin. Picks for you Brace for ‘hot April’ and XRP at $0.77; Here’s why 2 hours ago Here's how many millionaires Bitcoin creates daily 2 hours ago Ethereum Dencun upgrade goes live; Can ETH hit $5k? 3 hours ago Major short squeeze incoming for MicroStrategy stock 3 hours ago Bitcoin (BTC) open interest...

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...