Bitcoin Cash Rallies 10% as Investors Rebalance Portfolios for Cashinals Upgrade
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Bitcoin Cash (BCH) surged nearly 10% to around $588, witnessing its strongest daily gain in over a week. Open interest in BCH futures increased by 18.69%, reflecting rising bullish sentiment among traders as funding rates turned positive. A notable wallet converted over $13 million worth of ETH to BCH, indicating significant capital movement in the crypto market.
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- Bitcoin Cash climbed to around $588, marking one of its strongest daily gains in over a week.
- CoinGlass data shows open interest rose 18.69% while funding rates flipped positive.
- A long-dormant wallet swapped over $13 million worth of ETH into Bitcoin Cash.
Bitcoin Cash (BCH) climbed nearly 10% over the past 24 hours to around $587, outperforming much of the broader crypto market and posting one of its strongest daily gains in over a week.
The rally comes as derivatives and on-chain data point to rising bullish interest.
Futures Activity Surges, Funding Turns Positive
Data from CoinGlass shows that BCH futures open interest rose 18% in the past 24 hours to $773.29 million, meaning a sharp increase in capital exposure as traders return to risk-on positioning.
At the same time, the open interest–weighted funding rate flipped bullish to 0.0016%, after stand…
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In This News
Coins
$ 64.01K
-2.11%$ 1.86K
-1.18%$ 210.62
-0.41%$ 1.86K
-1.22%Predictions Markets
See what traders are focused on
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