🔥🔥Remarkable data in Bitcoin Cash (BCH) before the halving! 🔥🔥

Increasing open positions in Bitcoin Cash (BCH) attract attention just days before the halving.

As Bitcoin Cash (BCH) approaches its second halving event, it has increased by 9.06% in the last 24 hours, rising to the $ 575 band. According to NiceHash data, investors appear to have largely secured their positions in anticipation of the BCH halving scheduled for April 4.

The volatility created by the halving is still effective for Bitcoin Cash. On March 28, liquidations of $190,140 in short positions and $211,870 in long positions occurred. On the same day, according to CoinGlass data, open interest (OI) in Bitcoin Cash futures contracts increased by 18.26% in the last 24 hours and 165% in the last 7 days, reaching an all-time high of $708.75 million.

The last example of these levels occurred in May 2021; OI reached $684.12 million, which coincided with BCH reaching its highest price of $1,399 in the last five years. This development is in stark contrast to the same date in 2020, when futures open interest was at $63.29 just before the first BCH halving on April 8, 2020.

At that time, miner rewards dropped from 12.5 BCH to 6.25 BCH. However, miners seem to be taking this as a sign to increase their mining efforts ahead of the upcoming halving. “DavidShares,” a user on X, told his 17,900 followers that the Bitcoin Cash hash rate doubled last week.

The pulse is on for the halving! However, while Bitcoin is approaching its fourth halving, reaching record highs on April 21, Bitcoin Cash remains significantly below its all-time high of $4,355, reached in December 2017, according to CoinMarketCap data. The BCH halving will occur slightly earlier than the Bitcoin halving due to Bitcoin Cash temporarily using a different algorithm in 2017 to adjust the mining difficulty, thus speeding up block generation time.