Short squeeze alert for December 14: Two cryptocurrencies with potential to skyrocket
Greed is again a dominating sentiment after a retracement earlier this week, with most crypto currency projects showing bullish signals. However, data retrieved by Finbold from CoinGlass ’s long/short ratio on December 14 shows that a few crypto currencies remain dominated by short positions. Considering the sentiment shift, such a scenario in the derivative market could lead to short squeeze s. Particularly, Jito (JTO) and Unifi Protocol (UNFI) record a high weight of short-selling volume. This becomes even more relevant considering both tokens’ relatively low 24-hour volume and market capitalization. Will Jito (JTO) face a short squeeze? The JTO token is currently trading at $3.03, up 12% in the day. Surprisingly, it is still dominated by short over long positions in both the 12 and 24-hour time frames. Cryptocurrency Coinbase to globally expand its crypto trading services Cryptocurrency Google Bard predicts BNB price for January 1, 2024 ...