BCH is unfolding a textbook-level market split.

Latest data shows that the short interest in BCH futures on a major exchange has reached 56.4%, with some platforms reporting this number even soaring to 98%. Retail investors are almost unanimously betting on a decline. However, on-chain monitoring tools are capturing an entirely opposite signal—large wallet addresses are continuously accumulating in the spot market.

What does this divergence mean?

When market sentiment is extremely pessimistic, it often seeds a reversal. Retail traders use high leverage to short for short-term fluctuations, while whales are buying spot with real money to lock in long-term positions. Two completely different time horizons and two opposing risk preferences. Past experience tells us that smart money usually doesn’t stay on the wrong side for too long.

From a technical perspective, several key price ranges are worth watching:

If the price breaks out with volume beyond the previous high of $588.4, it could confirm a short-term trend reversal — a buy signal.

If it pulls back and stabilizes in the $565-575 range, this position offers a high risk-reward ratio, suitable for phased position building.

But if it falls below the $550 support level, the current bullish logic might need to be reevaluated, and timely stop-loss is the rational choice.

The first target is the previous high of $588.4; if it holds this level, the probability of further upward movement toward the $610 region increases.

The market always punishes followers and rewards independent thinkers. When most people are doing the same thing, perhaps it’s time to stop and reflect. How will you respond to this opportunity window created by cognitive divergence?