Bitcoin Cash Falls 4.11% as Binance Account Positioning Skews Long

Bitcoin Cash (BCH) fell 4.11% to $275.10 during the cited 24-hour period, trading between $257.40 and $286.90 as Binance account positioning remained skewed long.

Binance spot volume was $15.22 million. BCH traded below its seven-day simple moving average at $279.29, its 12-day exponential moving average at $288.12, its 26-day EMA at $288.38, its 20-day SMA at $305.91 and its 200-day SMA at $299.54. It remained above the 50-day SMA at $273.95.

Momentum indicators were subdued. The 14-period relative strength index was 44.73, while the stochastic oscillator showed %K at 27.11 and %D at 21.68.

Binance futures open interest stood at $89.37 million, up 9.85% and representing 300,657 contracts. Rising open interest alongside a falling price can reflect new positions entering the market, but the figure does not establish whether those positions are long or short.

At 3 a.m. ET (07:00 UTC), Binance global accounts were 59.7% long and 40.3% short, producing a long-to-short ratio of 1.4795. Binance’s top-trader cohort was 67.0% long and 33.1% short, for a ratio of 2.0257. The 0.1 percentage-point excess in the top-trader percentages reflects rounding.

The positioning figures describe account distribution rather than position size, profitability or liquidation levels. Binance’s eight-hour funding rate was 0.0002%, while the one-hour taker buy-to-sell ratio was 1.1101, based on buy volume of 4,425 and sell volume of 3,986.

Technical levels placed immediate support at $259.37 and stronger support at $243.63. Immediate resistance was marked at $288.87, with stronger resistance at $302.63. These are chart levels rather than confirmed price targets.