Analysts from the cryptocurrency analysis company Santiment have highlighted two specific coins in the altcoin market in their most recent report. Bitcoin Cash (BCH) and Axie Infinity (AXS) have garnered attention due to the significantly higher short positions compared to long positions this weekend, according to the analysts.
Santiment suggests that while the overall sentiment in the cryptocurrency market leans towards a general rise, BCH and AXS stand out as exceptions with their high short levels. The company points out that if these altcoins exhibit even a slight upward trend, it could trigger short liquidation, potentially acting as “rocket fuel” for their prices. As a result, an increase in the market value of these two altcoins may be on the horizon.
On the other hand, previous analyses from Santiment have indicated a positive outlook for large market value cryptocurrencies such as Bitcoin, Ethereum, XRP, and Cardano. The analysts have specifically noted a bullish sentiment, especially for Cardano, which they believe the market has overlooked.
It’s important to note that the information provided in this report is not intended as investment advice. Always conduct thorough research and consult with a professional before making any investment decisions.
