Bitcoin Cash Is In The Interest Of Whales

According to WhaleStats, Bitcoin Cash (BCH) is seeing sudden interest in whales. This comes as it ranks among the top 10 assets in terms of trading volume by the 100 largest BSC whales over the past 24 hours.

While the reason for the surge in interest remains unclear, the simplest logic remains that whales often take advantage of periods of price declines or underperformance to accumulate tokens cheaply.

Santiment’s MVRV shows the sentiment surrounding an asset at any given time, inferring the likelihood of future price movements based on probability.

A recent analysis by Santiment indicates that, for most assets, including BCH, 30-day trading returns continue to point to mid-term losses for the average portfolio. The deeper the asset’s MVRV goes into negative territory, the lower the downside risk.

At the time of writing, Bitcoin Cash is trading at $117.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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