TL;DR
- Open interest in Bitcoin Cash perpetual futures contracts has surpassed $700 million, indicating increasing trading activity and investor interest.
- BCH price remains significantly below its all-time high of $4,355, reached in December 2017.
- The Bitcoin Cash halving is scheduled for April 4, preceding Bitcoin’s halving expected on April 21, due to algorithm implementation differences in 2017.
Open interest in Bitcoin Cash perpetual futures contracts has reached staggering levels, surpassing $700 million ahead of the upcoming BCH halving. This trend suggests growing trading activity and heightened interest from investors in the Bitcoin Cash futures market. Additionally, its price has increased by 9.30% in the last 24 hours, reaching $621.19.
The last BCH halving event occurred in May 2021, resulting in a significant increase in open interest. However, BCH’s price was considerably higher at that time, nearly 2.5 times the current value. This trend indicates that the surge in open interest is occurring despite the current lower price.
Despite the pre-halving rally, BCH’s price remains significantly below its all-time high of $4,355, achieved in December 2017. This discrepancy suggests that the market has not yet reached the same level of enthusiasm and valuation as in the past.
Bitcoin Cash Still Remains Far From its All-Time High
‘It’s worth noting that the BCH halving is scheduled for April 4, slightly earlier than Bitcoin’s halving, expected on April 21. The difference in dates is due to BCH’s temporary implementation of a different algorithm in 2017, which accelerated block creation time.
In parallel, there has been an increase in BCH’s hash rate in the last week, indicating a rise in mining power ahead of the halving. These indicators suggest an atmosphere of optimism and expectations among investors and participants in the BCH market. We will keep an eye on the price evolution and see if the trend holds in the coming days.
