The cryptocurrency market experienced a crash in October, attracting short-sellers and increasing the bearish sentiment. Two cryptocurrencies, Sui (SUI) and Celestia (TIA), have particularly high negative funding rates, meaning short-sellers are paying high interest rates to long position holders. These funding rates are the most asymmetric among the top 30 cryptocurrencies with the highest open interest. Sui recently reached a record negative funding rate and could potentially experience a short squeeze if demand unexpectedly rises. However, traders should remain cautious as short positions typically increase in overbought or bearish markets.
- Content Editor ( finbold.com )
- 2024-10-04
Short squeeze alert for two highly shorted cryptocurrencies