Signs of recovery emerge in the crypto market, analysts predict a squeeze on short sellers
Publication Time:2024-08-06 18:16:08
During trading on Tuesday, there seemed to be a slight recovery in the cryptocurrency market. According to Coinbase analyst David Duong's analysis, this phenomenon may be related to an increase in buying activity by centralized exchanges, suggesting the possibility of a short sellers' squeeze in the market. Although prices have risen significantly in recent days, it is worth noting that Bitcoin futures funding rates have remained negative over the past 24 hours. This indicates that the demand for short positions in the market is still high, and many traders remain cautious, expecting further declines in Bitcoin prices. Despite this, Duong believes that the market may still experience panic in the short term, but this also suggests that short forces may soon face pressure, leading to the possibility of a market rebound.
Bitcoin
Crypto Market
Recovery
Short sellers squeeze
Futures funding rate