• BCH rebounded significantly, climbing above $500 a few days before its next halving event.
• Data from Coinglass shows a significant increase in Open Interest in BCH-backed futures.
• BTC has gained 7% this week with the return of the bulls after a two-week bearish period.

Bitcoin Cash (BCH) rebounded significantly, climbing above $500 a few days before its next halving event. The Bitcoin fork bounced off a swing low of around $348 to surpass its highest price since December 2021, according to data from TradingView.

Data from Coinglass shows a significant increase in Open Interest (OI) in BCH-backed futures is partly responsible for the recent surge in the cryptocurrency’s price. At the time of writing, the OI in BCH-tracked futures had more than doubled to $500 million on Thursday from $213 million last week.

The surge in OI continued and recorded an additional 17.71% rally within 24 hours as of Friday morning. As of the time of writing, it has increased by an additional $202 million to $702 million. This surge shows increased leveraged bets on more expected price volatility a few days before the halving event. The crypto community expects BCH halving to ha…

The post Users Bet On Increased Volatility as BTC and BCH Prepare For Halving appeared first on Coin Edition.

• BCH rebounded significantly, climbing above $500 a few days before its next halving event.
• Data from Coinglass shows a significant increase in Open Interest in BCH-backed futures.
• BTC has gained 7% this week with the return of the bulls after a two-week bearish period.

Bitcoin Cash (BCH) rebounded significantly, climbing above $500 a few days before its next halving event. The Bitcoin fork bounced off a swing low of around $348 to surpass its highest price since December 2021, according to data from TradingView.

Data from Coinglass shows a significant increase in Open Interest (OI) in BCH-backed futures is partly responsible for the recent surge in the cryptocurrency’s price. At the time of writing, the OI in BCH-tracked futures had more than doubled to $500 million on Thursday from $213 million last week.

The surge in OI continued and recorded an additional 17.71% rally within 24 hours as of Friday morning. As of the time of writing, it has increased by an additional $202 million to $702 million. This surge shows increased leveraged bets on more expected price volatility a few days before the halving event. The crypto community expects BCH halving to ha…

The post Users Bet On Increased Volatility as BTC and BCH Prepare For Halving appeared first on Coin Edition.