Bitcoin Cash dropped 7.7% in 24 hours and 12% over the past week, driven by hawkish fears following Federal Reserve Chair Kevin Warsh’s speech at Jackson Hole. Open Interest fell 9.6% in a single day, reinforcing short-term bearish pressure on the altcoin. Technical indicators are firmly bearish, with the CMF at -0.24 signaling heavy capital outflows and the RSI at 39 indicating prevalent bearish momentum. The $188 support level from 2023, which has held so far, could be broken according to weekly chart analysis. A Bitcoin Cash recovery would require Bitcoin to climb past $82k and BCH to defend the $220-$240 zone.
Source: Read the original article
