In the spot market, $BCH moved outside the range it had traded in over the previous four hours, falling below the reference low of $246.6.
Although this coincided with higher trading volume and aggressive buying accounted for 52% of intraday activity, it did not reverse the downward shift in the price level.
A high share of aggressive buy orders does not necessarily mean net capital inflows; it only reflects the direction of taker orders. When sell orders continue to exert pressure, this alone is unlikely to stop prices from weakening.
After moving outside its previous trading range, whether the price can stabilize at its current level and the pace of the deviation is more telling of changing supply and demand than the buy share alone.
Although this coincided with higher trading volume and aggressive buying accounted for 52% of intraday activity, it did not reverse the downward shift in the price level.
A high share of aggressive buy orders does not necessarily mean net capital inflows; it only reflects the direction of taker orders. When sell orders continue to exert pressure, this alone is unlikely to stop prices from weakening.
After moving outside its previous trading range, whether the price can stabilize at its current level and the pace of the deviation is more telling of changing supply and demand than the buy share alone.