Recently, the increasing short positions have caused many leading altcoins to lose value. If market perception changes, there may be a significant short squeeze in these altcoins in the coming hours or days. Currently, Filecoin (FIL) and Uniswap (UNI) are experiencing significant amounts of short selling.
In the last 18 hours, FIL token has seen a long position of $53.44 million and a short position of $61.49 million (53.5% ratio). In the last 24 hours, a similar long/short position ratio opened with a long position of $88.87 million and a short position of $102.32 million (53.52% ratio).
FIL is currently trading at $4.38, down 1.09% in the last 24 hours. This indicates a slight bearish trend on the altcoin, potential upward liquidity for short position holders, and greed.
On the other hand, Uniswap has opened a long position of $92.93 million and seen a short position of $102.39 million in the last 24 hours (52.42% ratio). The long/short position ratio in the last 12 hours shows a decreasing trend in 54% of the existing open positions.
UNI, like FIL, has lost 2.73% of its value in the last 24 hours and is trading at $5.93. However, the trading volume of the altcoin in the last 24 hours is twice the size of the opened short positions during the same time period.