Signs of Potential Short Squeeze for BNB Chain and Toncoin Cryptocurrencies
Tuesday, 14 May 2024, 17:51
Cryptocurrency Short Squeeze Analysis
High open interest volume, negative funding rates, and upward accumulated liquidations can indicate a potential short squeeze for cryptocurrencies.
Market Trend Observations
The cryptocurrency market, following Bitcoin's downtrend, is poised for a significant move either upwards or downwards.
BNB Chain Short Squeeze
- BNB has a high open interest and second-highest negative funding rate.
- Short sellers pay a 64% APR to long-position traders.
- A short squeeze could drive BNB to a liquidation pool near $610 per token.
Toncoin Potential Short Squeeze
- Toncoin exhibits the worst negative funding rate among cryptocurrency derivatives.
- The project has two notable liquidity pools for short liquidations at specific price levels.
- If the downtrend reverses, TON could experience a short squeeze effect.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.