“CME futures listing news sparks a surge in Bitcoin Cash cash, but Bitcoin once again faces resistance”: After CME Group announced it will launch Bitcoin Cash (BCH) futures on October 19, market expectations were that this would make it easier for institutional investors to gain BCH exposure through regulated products. As a result, BCH rose by about 28% at one point, nearing $349.
By contrast, although Bitcoin (BTC) once again tested around $87,300, it failed to hold above that level for the second consecutive trading day and was hit by sell pressure, dropping back to around $85,500. Here, “facing resistance” is a technical analysis term, meaning the selling power in that price range is relatively strong, and the price temporarily can’t break upward further.
BCH surged strongly due to a positive catalyst from the futures listing; while BTC encountered heavier sell pressure near $87,300, causing its rally to stall in the short term.$BTC
$BCH
#比特币两度受阻87300美元
By contrast, although Bitcoin (BTC) once again tested around $87,300, it failed to hold above that level for the second consecutive trading day and was hit by sell pressure, dropping back to around $85,500. Here, “facing resistance” is a technical analysis term, meaning the selling power in that price range is relatively strong, and the price temporarily can’t break upward further.
BCH surged strongly due to a positive catalyst from the futures listing; while BTC encountered heavier sell pressure near $87,300, causing its rally to stall in the short term.$BTC
$BCH
#比特币两度受阻87300美元