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
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.