Short squeeze alert for December 1: Two cryptocurrencies with potential to skyrocket
A bearish sentiment is dominating two cryptocurrencies with an increased number of short positions recently opened. If sentiment shifts, short squeezes might become likely events for the next hours or days. Particularly, the two mentioned crypto currencies are Filecoin (FIL) and Uniswap (UNI), with relevant open interest from short-sellers. In order to evaluate the short squeeze risk and opportunity, Finbold gathered derivative market data from CoinGlass on November 30. Notably, their volume is heavily weighted toward shorts over long positions in both the 12 and 24-hour time frames. Short squeeze alert for Filecoin (FIL) In the last 12 hours, Filecoin registered $53.44 million in long positions and $61.49 million in short positions (53.5%). The 24-hour time frame shows a similar weight of $102.32 million shorts (53.52%) over the $88.87 million longs. FIL Long/Short ratio on 12 and 24 hours. Source: CoinGlass Cryptocurrency Short squeeze alert for November 29: Two...