HBAR Price Vulnerable to Short Liquidations as Traders Go on Shorting Spree

• In the last 24 hours, HBAR has seen an uptick in the number of short-trading positions opened.
• Traders are aggressively shorting altcoins, making them vulnerable to short liquidations should the market momentum shift.
• At press time, HBAR traded at $0.0388, having declined by 1% in the last 24 hours, with a trading volume of $16 million and liquidations amounting to $21,529.

In the last 24 hours, the cryptocurrency market has seen an uptick in the number of short-trading positions opened, with traders aggressively shorting altcoins, making them vulnerable to short liquidations should the market momentum shift. One such altcoin is Hedera (HBAR), which has been on the receiving end of short trading activity.

At press time, HBAR traded at $0.0388, having declined by 1% in the last 24 hours, with a trading volume of $16 million. Data from Coinglass revealed that liquidations in the cryptocurrency market in the last 24 hours totaled $92.17 million, with at least 24,250 traders liquidating their holdings. HBAR liquidations of just $21,529 accounted for 0.023% of the total sums removed from the market.

The intraday trading session on 3 January saw many traders bet against a rally in the prices of several altcoins, including Hedera [HBAR], data from Santiment revealed. These trades, known as „shorting,“ involve investors selling assets they do not own in the hopes of buying them back at a lower price. Some market watchers believe that these assets could be vulnerable to „short liquidations“. This is where short sellers are forced to buy back the assets at a higher price due to market conditions.

It remains to be seen whether or not the Hedera shorters will win. For now, all eyes are on the cryptocurrency market to see how the activity of these short traders will impact HBAR’s price in the upcoming days.