These 3 altcoins could skyrocket?

The funding rates on Binance for AAVE, GRT, and MANA over the past week have recently turned from green to red. This suggests that investors have opened a large number of short positions related to these assets on the exchange, shifting the balance.

Interestingly, the large number of short positions by investors comes at a time when the overall cryptocurrency market is rebounding, with Bitcoin rising back above $58,000. Derivatives users don't seem to think that AAVE, GRT, and MANA will continue to rise. However, this pessimism about altcoins can actually be a boon to their prices.

This is because large-scale liquidation events are more likely to affect the side with the most positions in the market. Currently, the dominant side is the bearish side, so large-scale short liquidations may occur in the coming days.

Whenever a large number of liquidations occur at the same time, the price will fluctuate violently due to all this fuel. Therefore, I think that if these shorts are caught in a liquidation event, the price of altcoins may rise sharply.

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