The cryptocurrency market is currently experiencing a bullish sentiment driven by Bitcoin (BTC), aiming to retest the $50,000 mark. Notably, Bitcoin has surged by almost 10% in the past week, reaching $47,298 at press time.
Amid this positive market sentiment, several cryptocurrencies display signs of a short squeeze phenomenon in the near term. Notably, a short squeeze occurs when short-sellers face liquidation due to a price increase.
These liquidations compel traders to repurchase the cryptocurrency, causing a price surge, triggering further liquidations, and potentially leading to a significant upward movement.
In line with this, Finbold has identified the following two cryptocurrencies with the potential to rally, showing a higher volume of opened short positions in the last 24 hours than long positions open interest.
Chainlink (LINK)
Chainlink (LINK) has emerged as one of the top-performing cryptocurrencies in recent weeks, striving to surpass the $20 valuation. Notably, the toke
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