$BCH Sees 10% Surge: Spot vs. Derivatives Divergence 📈

$BCH has surged 10% in the last 24 hours, but this rally presents a notable contradiction. Leveraged traders are actively chasing the ascent, while spot holders appear to be using it as an exit opportunity.

On the derivatives front, perpetual contract traders have adopted a strong bullish stance. This is evident from an additional $184 million in open interest, pushing the total to $786 million. A positive funding rate of $0.0044% and $2.54 million in short liquidations further underscore the dominance of long positions. 🚀

Conversely, spot investors are showing a different trend. They appear to be gradually reducing their holdings, suggesting a potential profit-taking or de-risking strategy amidst the price increase. This divergence highlights varied market sentiment. 📉