Claim BonusBitcoin Cash (BCH) Price Surges 17%, Open Interest Hits $500 Million Before Halving
Highlights
- Bitcoin Cash halving will reduce block rewards from 6.25 BCH to 3.125 BCH.
- Bitcoin Cash open interest doubles in a week's time.
- BCH investors need to be careful as the 'Fear and Greed Index' points towards extreme greed.
Bitcoin Cash (BCH), the first hardforked version of the Bitcoin blockchain, has recently been on investors’ radar gaining 17% in the last 24 hours. As of press time, the Bitcoin Cash price is up 15.53% trading at $562 with a market cap of $11.07 billion. Also, the daily trading volume has surged by a staggering 152% currently at $1.76 billion.
Bitcoin Cash (BCH) Price Eyes New Moves
A lot of momentum has been recently building around Bitcoin Cash over the past month, as we approach the network’s halving event next week on April 4. On the monthly chart, the BCH price is already trading up by a staggering 85% helping the altcoin occupy a spot in the top-fifteen altcoin list.
In anticipation of the upcoming halving event on April 4, Bitcoin Cash (BCH) surged by 17%. Presently, the block reward stands at 6.25 BCH, but following the impending halving, it will decrease to 3.125 BCH.
Halving events occur when the mining transaction rewards are halved, diminishing the rate at which new coins are generated and consequently reducing the available supply. Bitcoin’s own halving event is projected for April 20, as per trackers, historically heralding a bullish trend for the cryptocurrency.
BCH Derivatives Demand Shoots
Moreover, open interest in BCH-tracked futures surged by more than double to $500 million on Thursday, compared to $213 million the previous week. This surge indicates a rise in leveraged bets, reflecting expectations of heightened price volatility.
Last week, crypto exchange Coinbase announced that it will introduce the first leveraged contracts for Bitcoin Cash. This has further boosted derivatives trading for this altcoin.
Analysts are expecting the BCH price to rally to $600 all the way to April 01. Bitcoin Cash (BCH) has exhibited notable volatility in recent times, with its 1-month volatility measuring at 11.82. Over the past 30 days, Bitcoin Cash has seen 19 days of positive price movements.
The BCH price has also gained 30% in the last week with some market analysts already giving bullish calls all the way up to $2,000.
Already up 50% after this tweet. More ahead. $2000+ in the coming months. $BTC Maxi will be coping hard. $BCH to the moon!#bch #btc #defi #p2p #cash #money https://t.co/FiB7NeRfxp pic.twitter.com/mtw7nwpnWr
— Thunder.BCH (@ThunderBCH) March 27, 2024
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Fed Rate Cut Uncertainty Mounts as BLS Delays Jobs Report Amid Shutdown
- Trump Tariffs: U.S. And India Reach Trade Deal, Crypto Market Recovers
- Is Kevin Warsh’s Fed Chair Nomination Bullish or Bearish for Bitcoin?
- U.S. ISM PMI Hits 4-Year High Above 52%, BTC Price Climbs
- Hyperliquid Unveils ‘HIP-4’ for Prediction Markets, HYPE Price Surges
- Top 3 Meme coin Price Prediction: Dogecoin, Shiba Inu And MemeCore Ahead of Market Recovery
- Here’s Why Pi Network Price Just Hit an All-Time Low
- Crypto Events to Watch This Week: Will the Market Recover or Crash More?
- XRP and BTC Price Prediction if Michael Saylor Dumps Bitcoin Following Crypto Market Crash
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
