Bitcoin Cash

Bitcoin

Coin

<ul class="news-points">
 <li>BCH rebounded significantly, climbing above $500 a few days before its next halving event.</li>
 <li>Data from Coinglass shows a significant increase in Open Interest in BCH-backed futures.</li>
 <li>BTC has gained 7% this week with the return of the bulls after a two-week bearish period.</li>
</ul>
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 <a href="https://www.tradingview.com/x/q0N4PKHS/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>.
Data from Coinglass shows a significant increase in <a href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank" rel="noopener noreferrer nofollow">Open Interest</a> (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 <a href="https://coinedition.com/users-bet-on-increased-volatility-as-btc-and-bch-prepare-for-halving/" rel="noopener noreferrer nofollow">Users Bet On Increased Volatility as BTC and BCH Prepare For Halving</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Users Bet On Increased Volatility as BTC and BCH Prepare For Halving

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