Bitcoin Cash rises 8% after Grayscale ETF filing
Bitcoin Cash (BCH)
Editor:
Eugene Serbin
tradersunion.com reports that Bitcoin Cash (BCH) surged 8.14% following Grayscale's submission of an amended S-3 registration statement to the SEC. The filing aims to convert the Bitcoin Cash Trust (BCHG) into a spot ETF listed on NYSE Arca, potentially increasing institutional access to the asset. Despite this rebound, BCH remains below its 20-day moving average of $241.27 and its 200-day moving average of $321.36.
The price has climbed just above the 50-day moving average at $232.09, signaling short-term resilience within a broader bearish setup. Short-term resistance is identified near the recent week high of $238.5, with support at the 50-day average. Momentum indicators generally signal a sell, with the MACD and Average Directional Index (ADX) both pointing down.
The Relative Strength Index (RSI) sits at 38.45, while the Commodity Channel Index (CCI) is at -130.87, highlighting persistent oversold conditions. Bull/Bear Power is negative at -10.77, confirming continued seller dominance intraday. Today's action features an upside gap of about 2.31%, carrying the price near session highs despite most momentum signals remaining bearish. Analysts note that this short-term bullish momentum occurs within a consolidating technical setup, supported by resilience against broader market volatility.
How the market reacted
Whalio's own Binance spot order flow for BCH, measured when this story was written up on 17 September 2026. Not the outlet's figures.
BCH is currently trading at $221.20, with a 1-hour buy ratio of 46.7% and a 4-hour buy ratio of 45.4%. These short-term ratios are lower than the 24-hour buy ratio of 52.4%, indicating that buying pressure is fading in the immediate term. The 1-hour volume delta is -$30,467, while the 4-hour volume delta is -$126,932, showing net selling in recent hours. In contrast, the 24-hour volume delta is +$341,811, reflecting net buying over the full day. The cumulative volume delta (CVD) for the 24-hour close is +$1,329,297. This means that over the last day, buyers have outweighed sellers, but the recent hourly flow suggests a shift toward selling.
The latest daily buy ratio of 52.0% sits at the 60th percentile of the last 324 days, against a median of 50.8% - ordinary for this coin.
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 43.4%, making today's 24-hour ratio of 52.4% an unusual day with 9.0 points more buying activity than the weekly average. However, the 24-hour spot volume of $7,154,553 is only 0.50x the weekly average, indicating significantly lower trading volume. Net buying occurred on just 1 of the 7 days in the preceding week. The price has changed -12.2% over the past 8 days, with a total volume delta of -$10,015,920 for that period. This suggests that despite today's relative strength, the broader weekly trend has been dominated by sellers.