CryptoIntelligence 2024-04-14 14:55:03

Bitcoin Cash Sees Sharp Decline in Open Interest and Price Following Halving, Contrasting 2020’s Gains

Over the past week, Bitcoin Cash (BCH) experienced a significant decline in both open interest (OI) and price following its halving event on April 4. Data from CoinGlass reveals that as of April 12, BCH’s OI was $378.3 million, a sharp 47% fall from its pre-halving peak of $708.5 million. This reduction in OI was accompanied by a 13% decrease in BCH’s market price, according to figures from CoinMarketCap. A significant portion of this drop occurred on April 10, with BCH losing 7.51% of its value within just three hours after fluctuating between $676 and $691 for four days. This

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