Imminent short squeeze: Pair of cryptocurrencies likely to explode
The cryptocurrency market is currently experiencing a bullish sentiment driven by Bitcoin (BTC), aiming to retest the $50,000 mark. Notably, Bitcoin has surged by almost 10% in the past week, reaching $47,298 at press time. Amid this positive market sentiment, several cryptocurrencies display signs of a short squeeze phenomenon in the near term. Notably, a short squeeze occurs when short-sellers face liquidation due to a price increase. These liquidations compel traders to repurchase the cryptocurrency, causing a price surge, triggering further liquidations, and potentially leading to a significant upward movement. In line with this, Finbold has identified the following two cryptocurrencies with the potential to rally, showing a higher volume of opened short positions in the last 24 hours than long positions open interest. Chainlink (LINK) Picked for you Institutional investors are actively deploying capital to this crypto startup 5 mins ago 3 cryptocurrencies ...