Bitcoin Cash jumps 20% to $544 as on-chain activity and futures longs surge

In the past day, Bitcoin Cash rose by as much as 20% to an intraday peak of $544, driven by stronger on-chain usage and bullish futures positioning. Between 1 and 17 February, BCH transactions increased from 9,769 to 14,240, while short liquidations of about $1.5 million far outpaced $102,340 in long liquidations. However, a declining hashrate and roughly $1.1 million in spot selling over the same period could challenge the sustainability of the rally.