Bitcoin Cash Falls 5.5% as Open Interest Rises

That combination is important for investors because it shows downside momentum is still intact even as some short-term indicators start to look stretched. The daily RSI at 44.92 is not yet deeply oversold, but stochastic readings are already in oversold territory, suggesting traders may be watching for a relief bounce rather than a confirmed reversal.

Derivatives positioning adds to the tension. Binance Futures open interest rose to about $110.9 million, indicating fresh leverage entered the market during the selloff, while funding stayed slightly negative at -0.0086%, showing a modest tilt toward shorts in perpetual contracts.

Price action on spot markets was less dramatic than the derivatives setup. Binance spot volume came in at $24.6 million, which points to a controlled retreat rather than a liquidation cascade, even though BCH remains below its 7-day, 20-day, 50-day and 200-day moving averages.

The broader crypto backdrop is also weighing on sentiment. Bitcoin remains under pressure from a global bond selloff, higher yields and a firmer dollar, conditions that have pushed investors away from risk assets and into safer holdings.

For now, the key question is whether BCH can hold above $266 and the 50-day moving average. A close below that zone would expose $252.10, while any recovery needs a decisive move back above $282.30 and then $296.20 to change the near-term technical picture.