The short interest of Bitcoin Cash (BCH) on Bitfinex has surged above 300%, reaching an all-time high leading up to the November 15 hard fork.
TradingView data revealed that the short contracts total 104,531 BCH, which is equivalent to $54,704,208 at current prices. This is a great hike from the 25,000 BCH sold short on 2nd of November.
Bitcoin Cash (BCH) Price Today – BCH / USD
Please enter CoinGecko Free Api Key to get this plugin works.
According to this data, investors are betting that the November 15 hard fork which will produce two different chains: Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC), will be bearish for the new BCH price.
It is very important to keep in mind that the BCH/USD long contracts also sits at an all-time high, but the number of contracts currently equals 53,568 BCH. This tells us that, currently, there is a roughly 2:1 short to long ratio.
Currently, BCH trades at $510 and is ranked 4th with a market cap of $8.9 billion and a 24 hour volume of $943.6 million.
