Analysts from the cryptocurrency analysis company Santiment drew attention to two coins in the altcoin market in their latest post.
According to analysts, Bitcoin Cash (BCH) and Axie Infinity (AXS) stand out as one of the few altcoins where short positions are significantly higher than long positions this weekend. According to Santiment, the cryptocurrency market seems confident about a general rise, but these two altcoins are exceptions to this attitude.
According to analysts, due to the high short levels in these two altcoins, if these coins show even a slight upward sign, a short liquidation may occur and serve as “rocket fuel” for the price. Analysts claim that in this case, there may be an increase in the market value of these two altcoins.
However, in their previous analyses, Santiment analysts claimed that there was a positive perspective in the market against large market value cryptocurrencies such as Bitcoin, Ethereum, XRP and Cardano. They argued that this situation was ignored by the market, especially for Cardano.
*This is not investment advice.