BCH has seen some subtle developments recently. On the one hand, on September 6, trading volume for its perpetual contracts on Binance surged 5-fold within 10 minutes, and the 24-hour trading value surpassed $100 million. On the other hand, the BCH price is still about 25% below the 200-day moving average and, technically, remains a rebound within a long-term downtrend structure.
From the perspective of fund competition, although large-lot longs lean bullish (65.9%), active sell orders in the spot market far exceed active buy orders (about 1.56:1). It appears that the “giant whales” are using futures to provide cover for spot selling. Combined with the macro backdrop—September rate hike expectations still as high as about 65%—this is not friendly for BCH, a well-known older coin with relatively thin liquidity.
$BCH - 空
Enter the trade from below 👇
From the perspective of fund competition, although large-lot longs lean bullish (65.9%), active sell orders in the spot market far exceed active buy orders (about 1.56:1). It appears that the “giant whales” are using futures to provide cover for spot selling. Combined with the macro backdrop—September rate hike expectations still as high as about 65%—this is not friendly for BCH, a well-known older coin with relatively thin liquidity.
$BCH - 空
Enter the trade from below 👇
