Bitcoin Cash hasn’t seen open interest at this level since May 2021, when its price was nearly 2.5 times higher.
Bitcoin Cash (BCH) is currently trading at $574.84, having jumped 9.06% over the past 24 hours as the second-ever BCH halving event is set to take place next week.
Traders appear to be heavily securing their positions in anticipation of the BCH halving, which is scheduled for April 4, according to NiceHash data.
On March 28, $190,140 was liquidated in short positions and $211,870 in long positions.
