Greed is again a dominating sentiment after a retracement earlier this week, with most cryptocurrency projects showing bullish signals.
However, data retrieved by Finbold from CoinGlass’s long/short ratio on December 14 shows that a few cryptocurrencies remain dominated by short positions. Considering the sentiment shift, such a scenario in the derivative market could lead to short squeezes.
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.
First, Jito has $172.87 million (52.53%) of opened shorts in the last 12 hours, and second, $319.92 million (52.08%) of bearish volume in the larger frame.
JTO Long/Short ratio on 1
We współpracy z: https://finbold.com/short-squeeze-alert-for-december-14-two-cryptocurrencies-with-potential-to-skyrocket/
