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.

加密货币市场最近发生的事件完全将情绪从中性转变为看涨。美国证券交易委员会最终批准了比特币现货 ETF，引发了大多数加密货币的牛市反弹。

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.

在这种情况下，交易者关闭了价值数百万美元的空头头寸，减少了轧空的可能性。尽管如此，市场上仍然有可能找到小型流动性池，这些流动性池很快就会成为做市商的目标。

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.

通过开立空头头寸，交易者根据止损和预定义的追加保证金价格向上创建流动性池。本质上，如果加密货币达到这些价格，头寸就会被平仓或清算，从而导致进一步流动性池的价格飙升。这就是所谓的轧空。

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.

特别是狗狗币（DOGE）和BNB链（BNB）尽管交易量较低，但在较高价格水平上仍具有一定的流动性。 Finbold 使用了 1 月 11 日检索到的 CoinGlass 数据。

Short squeeze alert for Dogecoin (DOGE)

狗狗币（DOGE）的空头挤压警报

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.

截至发稿时，狗狗币的交易价格为 0.08483 美元，在过去 24 小时内上涨了 7.18%。然而，DOGE 的衍生品业务交易量损失了 32%，达 13.3 亿美元。其中，最近开设的空头头寸为 7.0337 亿美元（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.

正如下面的热图所示，这些卖空者可能有助于形成更高的流动性池。值得注意的是，每周清算图表显示集中度高于 0.086 美元。此外，随着领先的 meme 代币接近这个价格范围，DOGE 已经开始清算一些头寸。

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

BNB Chain（BNB）已被轧空；还有更多吗？

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.

同时，BNB已经证明了流动性池分析的有效性。 1 月 9 日，Finbold 发布了该代币的空头挤压警报，这正如预期的那样发生了。目前，BNB Chain 交易价格为 315 美元，流动性向上和向下。

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.

最后，两种加密货币的低交易量可能会阻止轧空的发生。即便如此，如果市场保持看涨势头，价格可能会继续飙升。

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