Short squeeze alert for December 7: Two cryptocurrencies with potential to skyrocket
Euphory and greed are dominating sentiments in the cryptocurrency market at this point. Most traders and investors expect further growth and call for a bull market for Bitcoin (BTC) and altcoins in the coming days. Nevertheless, bearish sentiment is rising for two cryptocurrencies , with an increased number of short positions recently opened. If the overall positive sentiment turns to them, these two digital assets could face a short squeeze at any moment. In order to evaluate the short squeeze risk and opportunity, Finbold gathered derivative market data from CoinGlass on December 6. Notably, their volume is heavily weighted toward shorts over long positions in both the 12 and 24-hour time frames. The aforementioned cryptocurrencies are dYdX (DYDX) and Chainlink (LINK). dYdX (DYDX) massive short squeeze alert Cryptocurrency Chainlink would trade at this price if LINK hits its all-time high market cap Cryptocurrency Top 5 altcoins to buy in De...