These 3 Altcoins Are Shorting Big But Is It Bullish?

Sell ​​when others are greedy and buy when others are afraid, right? Should Warren Buffett’s advice turn out to be true, the current landscape around three popular altcoins could suggest upcoming bullish rallies for everyone.

According to Santiment, traders have recently chosen 1 inch, Tron and Stellar to short, which could provide buying opportunities for investors.

1Inch, Tron and Stellar have been shorted here in early September. When we see strong bets against an asset, liquidations can occur that act as “rocket fuel” for the asset’s price to rise further. Going against the crowd of doubters could pay dividends. pic.twitter.com/gxBVCyyHqf

— Santiment (@santimentfeed) September 4, 2024

The crypto asset’s chart shows that the three assets in question have seen a large number of short positions since the beginning of the month. It seems like an appropriate strategy considering the fact that the entire crypto market rallied in the last few days.

Tron is down 6% since the beginning of the month, while XLM is down 5% in the same time period. However, 1 inch is in the opposite corner, having gained about 4%.

This could be the testing ground for Santiment’s tweet, as it suggested that such a high number of short positions could serve as the “rocket fuel” needed for these assets to rise as liquidations can occur more easily.

As such, the follow-up resource suggested that going against the “doubting crowd” could be beneficial in similar situations.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!