Santiment, a leading cryptocurrency analysis company, has highlighted two altcoins that could potentially experience a significant price increase if there is a short squeeze. The coins in focus are Bitcoin Cash (BCH) and Axie Infinity (AXS).
Santiment analysts point out that while the general sentiment in the cryptocurrency market suggests a rise in prices, these two altcoins are exceptions. They have significantly higher short positions compared to long positions.
The analysts believe that if there is even a slight upward movement in the price of BCH and AXS, it could lead to a short liquidation. This would act as a catalyst and propel the prices higher, similar to rocket fuel. Consequently, the market value of these two altcoins may see a substantial increase.
However, it is important to note that Santiment’s previous analyses have noted a positive outlook for cryptocurrencies with larger market values like Bitcoin, Ethereum, XRP, and Cardano. The market is seemingly disregarding this positive sentiment, especially towards Cardano.
It is crucial to exercise caution and remember that this information should not be taken as investment advice.