Bitcoin Cash drops 8.68% as sellers accelerate despite bullish indicators
Bitcoin Cash (BCH)
Editor:
Eugene Serbin
tradersunion.com reports that Bitcoin Cash (BCH) fell 8.68% in a session characterized by a sharp downside gap and diverging momentum. The price dropped to $248.3, marking a decline of $23.6 from the previous close. Despite this drop, BCH remains above its 20-day and 50-day moving averages, which are located at $232.53 and $225.18 respectively.
However, the price stays well below the 200-day moving average at $350.12, signaling longer-term bearish alignment. Momentum indicators like the MACD and ADX suggest an upward bias, while the RSI sits at 69.17, indicating overbought conditions. Bull/Bear Power is positive at 22.86, confirming buyer dominance but also pointing to an overbought zone.
The nearest resistance is defined by the Ichimoku Kijun at $252.65, with initial support at the 20-day moving average. Analysts note that short- and medium-term bullish momentum contrasts with fresh selling pressure, making $232.53 a critical level to watch.
How the market reacted
Whalio's own Binance spot order flow for BCH, measured when this story was written up on 28 August 2026. Not the outlet's figures.
BCH is currently trading at $269.70 with a 1-hour buy ratio of 50.8%, suggesting immediate buying interest. This contrasts with the 4-hour buy ratio of 43.8% and the 24-hour ratio of 45.3%, indicating that buying pressure is fading over longer timeframes. The 1-hour volume delta is positive at +$6,161, showing net buying in the short term. However, the 4-hour and 24-hour volume deltas are negative at -$819,625 and -$851,653 respectively, reflecting net selling over longer periods. The CVD for the 24-hour close is -$617,171, further confirming that sellers have dominated the day. This data shows that while there is short-term buying, the overall trend over the last day is one of net outflow.
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 24 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 54.2%, compared to the latest day's 45.3%, a difference of 8.9 points. This indicates that buying interest has decreased significantly compared to the weekly average. Volume on this day was 0.37x the average, showing a substantial drop in trading activity. The price increased by 20.9% over the last 8 days, with a total volume delta of +$17,349,051. This week has seen net buying on 5 of the 7 days, contrasting with the net selling observed in the recent 24-hour period. The current day appears unusual due to the low volume and reduced buy ratio compared to the weekly norm.