Bitcoin Cash (BCH) jumps ~12% as futures open interest, retail buying and momentum drive breakout
Bitcoin Cash (BCH) rallied sharply — roughly 12–15% across the latest updates — driven by a mix of increased retail buying after a softer-than-expected US CPI print (2.7%), larger long positions from high-level traders, and rising futures open interest. BCH traded near $594–$596 and reclaimed the $600 area, briefly becoming one of the top performers as market-wide strength (BTC > $92k, ETH ~ $3.2k) supported altcoins. Futures open interest rose to a six-month high (about $761.5m, up ~18.7%), and funding rates turned positive, signaling bullish positioning and that longs paid a premium. On technicals, 4-hour indicators showed bullish momentum — RSI above neutral (~59), MACD bullish, price above key moving averages — and price formed a double bottom around $530. Near-term resistance sits at $615 and $650, with a higher target near the 2024 high around $720; failure to sustain gains could trigger a retest of inducement liquidity near $550 or consolidation in the $600–$625 range. Trading takeaways: monitor BCH price action at $615–$650 for breakout confirmation, watch RSI/MACD and funding rates for momentum shifts, size positions with the broader bullish crypto backdrop in mind, and use stops below $550 to manage downside risk. Not investment advice.
Bullish
The combined reports point to a bullish outlook for BCH. Key bullish drivers: a significant rise in futures open interest (six‑month high) and positive funding rates indicate that leverage and trader positioning are favoring longs; retail buying following a softer US CPI fueled immediate demand; technicals on the 4‑hour chart (RSI above neutral, bullish MACD, price above moving averages, and a double bottom near $530) support momentum continuation. Near-term resistance zones ($615–$650) set clear breakout targets; a decisive break would likely extend the move toward higher targets such as $720. Risk remains — notably the inducement liquidity area near $550 — so failure to hold above key levels could yield a quick retest or consolidation. For traders this means a higher-probability bullish bias in the short term, but elevated volatility and leveraged positioning increase the chance of sharp moves and require strict risk management (stops, position sizing).