China News by Thebittimes.Com

Bitcoin (BTC) has experienced a sharp drop, triggering “buy the dip” chants over the crowd, as retail’s sentiment remains bullish. On Binance, three in every four traders have open long positions in the leading cryptocurrency, threatening a short-term long squeeze. Finbold retrieved Binance’s 24-hour long/short ratio data from CoinGlass , measuring unique accounts instead of volume. Notably, 76.69% of all Bitcoin traders on the leading crypto exchange had long positions by June 25. This represents a 3.29:4 ratio for this market alone. Binance represents over 50% of Bitcoin’s global trading volume. Bitcoin BTCUSDT Long/Short (Accounts). Source: CoinGlass However, there is a clear divergence between the number of unique accounts (users) and the volume deployed to these positions. The volume-based 24-hour long/short ratio shows a different scenario with $8.67 billion shorts over $8.58 billion longs. ...

While the cryptocurrency market decides its next move, liquidation pools in the two leading cryptocurrencies threaten a potential short squeeze . Bitcoin (BTC) and Ethereum (ETH) could pump next week if the market liquidates short positions betting against these finance giants. Bitcoin lost a trading range support on April 1 and is down nearly 7% month-to-date, at $66,773. Meanwhile, Ethereum had a similar pattern, down nearly 10% month-to-date, trading at $3,273 by press time. Derivatives market data of Bitcoin and Ethereum. Source: CoinGlass In this context, cryptocurrency Futures traders have favored opening short positions against the two most valuable cryptocurrencies. Therefore, Finbold retrieved data from CoinGlass on April 5 to understand the risks and potential of a short squeeze pump. Picks for you 3 meme coins to turn $100 into $1,000 in April 18 mins ago Crypto war! Solana community launches brutal attack on Ethereum 20 mins ago Bitcoin scores...

Short positions in two cryptocurrencies have risen in the past 12 to 24 hours, indicating a bearish sentiment in the crypto currency market; however, this volume may lead to short- squeeze opportunities for bullish traders. Particularly, Avalanche (AVAX) and Arbitrum (ARB) are showing a relevant weight of opened shorts over the total long positions in the derivative market. Both open interest capitalization also accrues for a meaningful amount of each 24-hour spot volume and market cap. Finbold retrieved this data from CoinGlass on November 28, looking for possible short-squeeze events in a 12 to 24-hour time frame. Short squeeze alert for Avalanche (AVAX) In the last 12 hours, Avalanche registered $127.01 million in long positions and $141.14 million in short positions (52.63%). The 24-hour time frame also saw a similar weight of $274.06 million shorts (52.14%) over the $251.55 million longs. AVAX Long/Short ratio on 12 and 24 hours. Source: CoinGlass Stocks Sh...