Bitcoin Cash trading volume surges 30% amid liquidation cluster buildup

Bitcoin Cash (BCH) experienced a 30% surge in daily trading volume on August 10, even as the price saw a slight decline of 1.2% and open interest decreased by 2.26%. This divergence suggests that while spot trading activity increased, traders may be reducing leveraged exposure.

Market analysts are closely monitoring liquidation clusters located between $221 and $231, which could act as a magnetic zone for price movement. A successful move above $232 is considered a potential target, supported by a rising trendline dating back to June 24. However, the long-term trend remains bearish, with significant overhead supply zones identified between $250 and $280.