Why Bitcoin

Why Bitcoin, Ethereum, and Chainlink are primed for a short squeeze rally

– A crypto analyst is predicting an abrupt rally for a trio of digital assets fueled by short sellers.

– According to Goepfert, retail traders have spent $18 billion on put options and accumulated $46 billion worth of short positions on index futures both record setting.

– Van de Poppe says that the record-setting amount of short positions in the traditional markets is actually a bullish signal.

– A short squeeze happens when traders who borrow units of an asset at a certain price in hopes of selling lower to pocket the difference (short) are forced to buy back as the trade moves against their bias.

– With Van de Poppe predicting a rally in the traditional markets, the crypto analyst is expecting Bitcoin (BTC) to follow suit.

– Van de Poppe is also keeping a close watch on decentralized oracle network Chainlink (LINK). According to Van de Poppe, LINK might be due for a short-term pullback before igniting the next leg up.

warns short sellers altcoin Why Bitcoin, Ethereum, and Chainlink are primed for a short squeeze rally

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