Bitcoin Cash Futures Traders Suffer Record Losses as Prices Skyrocket to $320

Traders betting against Bitcoin Cash (BCH) lost over $25 million as prices spiked to $320, marking the highest loss in over two years. Negative funding rates indicate that short traders are dominant and willing to pay long traders to remain in their positions. Increased BCH trading volumes on South Korean exchanges and the launch of EDX Markets, backed by traditional finance heavyweights, may have contributed to the price surge. Large liquidations can signal the local top or bottom of a steep price move.