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Reading: Stunning Report from Analytical Company: Short Positions Trigger Fear, Uncertainty, and Doubt in Crypto Market!
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COINTURK NEWS > Cryptocurrency News > Stunning Report from Analytical Company: Short Positions Trigger Fear, Uncertainty, and Doubt in Crypto Market!
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Stunning Report from Analytical Company: Short Positions Trigger Fear, Uncertainty, and Doubt in Crypto Market!

In Brief

  • Last week, there were declines in most leading tokens in the cryptocurrency market. Some traders speculated that the downward trend would continue and opened short positions in the market. A recent post by Santiment showed that the dominant position in the cryptocurrency market was short. In response to falling prices, many investors seemed to adopt […]
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COINTURK NEWS 2 years ago
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Last week, there were declines in most leading tokens in the cryptocurrency market. Some traders speculated that the downward trend would continue and opened short positions in the market. A recent post by Santiment showed that the dominant position in the cryptocurrency market was short. In response to falling prices, many investors seemed to adopt short positions in most tokens.

Contents
Stunning Report from Analytical Company!Current Situation of Bitcoin and Ethereum!

Stunning Report from Analytical Company!

Increasing short positions, clearly visible from the negative funding rate, can trigger Fear, Uncertainty, and Doubt (FUD) and lead to further liquidation. While these short positions reflect a pessimistic market sentiment, they can also serve as a precursor to an upward trend. This is because investors showing an upward trend can take advantage of the opportunity presented by price drops to initiate buying activity.

According to Coinglass data, the ongoing decline in cryptocurrency market prices resulted in less liquidation for short positions compared to long positions. Examining the liquidation table revealed significant liquidation activity for long positions on August 15 and 16. On August 15, long positions experienced liquidations exceeding $122 million, compared to approximately $9.5 million for short positions. Turning to August 16, long position liquidations reached $111 million, while short positions faced liquidation of approximately $15 million.

Current Situation of Bitcoin and Ethereum!

At the time of writing, long positions faced approximately $37 million in liquidation, while short positions reached around $6 million. Additionally, examining the long/short ratio of the best assets according to market value on Coinglass highlighted the prevalence of short positions.

The short position of Bitcoin exceeded $15 billion at the time of writing, aligning with total long positions surpassing $13 billion. For Ethereum (ETH), short positions were around $5.9 billion, while long positions were around $5.4 billion. Similarly, Ripple (XRP) and Binance Coin (BNB) also showcased significant figures. At the time of writing, XRP’s long and short positions exceeded $1 billion and $960 million, respectively.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 17 August, 2023 - 7:34 pm 17 August, 2023 - 7:34 pm
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