Bitcoin Cash (BCH) Short Interest Hits an All-Time High as the Fork Approaches
According to data from TradingView, the short contracts total 104,531 BCH, equalling $54,704,208 at current prices. This is a significant hike from the roughly 25,000 BCH sold short on November 2.
This data suggests that investors are betting that the upcoming fork, which will produce two separate chains: Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), will be bearish for the price of the new BCH.
It’s important to note that the BCH/USD long contracts also sit at it an all-time high, but the current number of contracts equals 53,568 BCH. This means that there is a roughly 2:1 short to long ratio currently.
BCH is currently trading at $527, down 4.12% on the week. However, the price is still up around 12% in the last month.
More: BCH/USD Short Interest
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.