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Bitcoin Cash Struggles to Reclaim $300 Psychological Level as Open Interest Rates Ease Below $500 Million

The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Bitcoin Cash (BCH) has been struggling to close above $300 since July 2nd, and has failed to reclaim the $300 psychological level.

The altcoin's rally seen at the end of June is dissipating slowly, and bulls are currently preventing a pullback from turning into a downtrend at the $261 support level. Open Interest rates for BCH futures have eased below $500 million, indicating a stagnation in demand amidst Bitcoin consolidation above $30k.

Bitcoin Bitcoin $98,252.75
+0.77%
Bitcoin Cash Rally
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