Recent events in the cryptocurrency market completely shifted sentiment from neutral to bullish. The SEC finally approved Bitcoin spot ETFs, igniting a bull rally for most cryptocurrencies.

加密貨幣市場最近發生的事件完全將情緒從中性轉變為看漲。美國證券交易委員會最終批准了比特幣現貨 ETF，引發了大多數加密貨幣的牛市反彈。

In this occurrence, traders closed millions of dollars worth of short positions, reducing the likelihood of short squeezes. Nevertheless, it is still possible to find small liquidity pools in the market, which can quickly become market makers’ targets.

在這種情況下，交易者關閉了價值數百萬美元的空頭頭寸，減少了軋空的可能性。儘管如此，市場上仍然有可能找到小型流動性池，這些流動性池很快就會成為做市商的目標。

By opening a short position, traders create liquidity pools upwards, due to stop losses and pre-defined margin call prices. Essentially, if the cryptocurrency reaches these prices, the positions are closed or liquidated, skyrocketing the price on further liquidity pools. This is what is called a short squeeze.

透過開立空頭頭寸，交易者根據止損和預先定義的追加保證金價格向上創建流動性池。本質上，如果加密貨幣達到這些價格，部位就會被平倉或清算，導致進一步流動性池的價格飆升。這就是所謂的軋空。

In particular, Dogecoin (DOGE) and BNB Chain (BNB) still have some liquidity at higher price levels despite their low volume. Finbold used data from CoinGlass, retrieved on January 11.

特別是狗狗幣（DOGE）和BNB鏈（BNB）儘管交易量較低，但在較高價格水準上仍具有一定的流動性。 Finbold 使用了 1 月 11 日檢索到的 CoinGlass 資料。

Short squeeze alert for Dogecoin (DOGE)

狗狗幣（DOGE）的空頭擠壓警報

Dogecoin is trading at $0.08483 by press time, up 7.18% in the last 24 hours. However, DOGE registers a 32% volume loss of $1.33 billion in derivatives operations. From that, $703.37 million (51.18%) are recently opened short positions.

截至發稿時，狗狗幣的交易價格為 0.08483 美元，在過去 24 小時內上漲了 7.18%。然而，DOGE 的衍生性商品業務交易量損失了 32%，達 13.3 億美元。其中，最近開設的空頭部位為 7.0337 億美元（51.18%）。

As observed in the following heatmap, these short-sellers might contribute to the formation of higher liquidity pools. Notably, the weekly liquidation chart shows a concentration above $0.086. Moreover, DOGE already started liquidating some positions as the leading meme coin moves closer to this price range.

正如下面的熱圖所示，這些賣空者可能有助於形成更高的流動性池。值得注意的是，每週清算圖表顯示集中度高於 0.086 美元。此外，隨著領先的 meme 代幣接近這個價格範圍，DOGE 已經開始清算一些部位。

BNB Chain (BNB) already short-squeezed; is there more?

BNB Chain（BNB）已被軋空；還有更多嗎？

In the meantime, BNB has already proved the efficiency of liquidity pool analysis. On January 9, Finbold posted a short-squeeze alert for the token, which happened as expected. Currently, BNB Chain trades at $315 with both upward and downward liquidity.

同時，BNB已經證明了流動性池分析的有效性。 1 月 9 日，Finbold 發布了該代幣的空頭擠壓警報，正如預期的那樣發生了。目前，BNB Chain 交易價格為 315 美元，流動性向上和向下。

In closing, the low volume for the two cryptocurrencies could prevent a short squeeze from happening. Even then, the price might continue surging if the market holds bullish momentum.

最後，兩種加密貨幣的低交易量可能會阻止軋空的發生。即便如此，如果市場保持看漲勢頭，價格可能會繼續飆升。

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