Bitcoin Cash drops 8% as selling pressure mounts
Bitcoin Cash (BCH)
Editor:
Eugene Serbin
tradersunion.com reports that Bitcoin Cash (BCH) fell 8.04% due to firm selling pressure and a swift downside gap. The decline was driven by intraday momentum shifts, with BCH trading near its session low. Despite the drop, BCH remains above its 20-day moving average at $234.05 and its 50-day average at $225.36.
However, the price stays below its 200-day average of $348.68, indicating lingering long-term resistance. The Ichimoku Kijun at $252.65 acts as immediate resistance, while the near-term ceiling is $244 and the floor is $234.05. Momentum signals are mixed, with the MACD and Average Directional Index showing positive momentum.
The RSI sits at 54.34, suggesting moderate strength, while Bull/Bear Power at 21.63 confirms buyer dominance. Daily volatility stands at 1.80%, and analysts note persistent selling pressure within a consolidation phase. Traders are advised to monitor for volatility spikes beyond the $213.7–$264.7 band.
How the market reacted
Whalio's own Binance spot order flow for BCH, measured when this story was written up on 29 August 2026. Not the outlet's figures.
BCH is currently trading at $248.10 on Binance spot markets. Buy ratios have shifted from 69.9% in the last hour to 53.7% over four hours, and down to 47.8% over 24 hours. This indicates that buying pressure is fading as the timeframe extends. Volume deltas show +$131,601 in the last hour and +$83,698 over four hours, contrasting with a -$543,305 delta over 24 hours. The Cumulative Volume Delta (CVD) closed at -$1,134,167 for the day. These figures suggest that while short-term buying occurred, net selling dominated the broader session. Spot volume reached $13,370,019 with 108,328 trades in 24 hours.
The latest daily buy ratio of 52.1% sits at the 60th percentile of the last 281 days, against a median of 50.8% - ordinary for this coin.
Twenty-four hours later
What BCH did over the 23 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BCH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.9%, compared to the latest day's 47.8%, a difference of 3.0 points. Volume was 0.60x the average, indicating lower than usual activity. Price dropped 14.0% over eight days, with a total volume delta of +$8,339,521. This represents an unusual day with significantly reduced volume compared to the weekly norm. Only 4 of 7 days saw net buying, highlighting a recent bearish trend.