Look at the weekly funding rate of BCH, the red box has been marked. The previous long-term funding rate was negative for a period of time. Afterwards, there was a decent increase.

Looking at the last 4 days, BCH has pulled back quite a bit, but the spot accumulation is still increasing, which indicates that some long positions in the contracts have been liquidated, and the contract positions have decreased somewhat. The spot has not only not been sold but has also increased by several million USDT, as the main players are trading in the spot market, so the spot has significant reference value.

A few days ago, BCH started to pull back when it couldn't break through the strong resistance at 530, and then there was a massive liquidation at the 468 position, which is a strong support level.