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In a rallying cryptocurrency landscape, each pump and opened long position leave liquidity pools behind, which can cause long squeeze s. Therefore, traders can look for cryptocurrencies with an increased volume of longs to prepare for retrace ments. Finbold gathered data from CoinGlass on March 2 to analyze the derivatives market. Cryptocurrencies have shifted to a dominating bullish sentiment amid a notable rally. In particular, Bitcoin (BTC) and Ethereum (ETH) accumulated massive gains and now threaten a correction. Essentially, traders tend to open longs when the market is going up while favoring short positions when it goes down. However, longs are trading contracts that require deposited collateral, setting a liquidation price downwards. Picked for you IPO backed by Bitcoin mining titan struggles on first trading day 31 mins ago Ripple reserves 200 million XRP for March’s sell-off 2 hours ago Brace for strong DOGE surge; Here’s why 2 hours ago How m...

The cryptocurrency market started a bull rally on February 7, led by Bitcoin (BTC). However, XRP is lagging behind, maintaining a relevant volume of bearish short positions, creating short-squeeze opportunities for next week or sooner. A short squeeze happens when short -sellers are liquidated, facing a sudden price surge during trend reversals. These liquidations force the repurchase of the short ed cryptocurrency, driving the price even higher, triggering further liquidations, and potentially making it skyrocket. In this context, Finbold gathered data from CoinGlass about the crypto derivatives market on February 9. In particular, we spotted short squeeze potential on XRP in the monthly time frame. Short squeeze alert for XRP next week XRP has heavy liquidity accumulation at the $6 price level. More specifically, there are $8,680 in short liquidations at $6.01, making it an appealing target for market makers. Picked for you Terra Classic to the moon? LUNC shoots 1...