Bitcoin Cash Rallies 13% Ahead of BCH Halving, Bitcoin Steady Around $70K
Summary
Bitcoin prices remained steady around $70,000 after briefly surpassing $71,000. Major tokens such as Solana’s SOL, XRP, and BNB Chain’s BNB experienced slight losses, while Internet Computer’s ICP fell by 6%. Traders anticipate a potential market-wide pullback if Bitcoin drops below $69,000. Dogecoin saw a 6% increase without any immediate catalyst. The CoinDesk 20 index was down by 1.4%. Bitcoin Cash surged by 13% in anticipation of a halving event on April 4, which will reduce the block reward from 6.25 BCH to 3.125 BCH. Open interest on BCH-tracked futures doubled to $500 million, indicating increased levered bets on price volatility. Bitcoin's own halving is expected on April 20 and has traditionally been followed by a bull market.
