Bitcoin Cash Rally Accelerates on Whale Activity and Bullish Technical Signals
2025-07-05 18:18:14
Main Idea
Bitcoin Cash (BCH) experienced a significant price rally driven by whale activity and bullish technical indicators, despite broader market fluctuations and lackluster on-chain fundamentals.
Key Points
1. Bitcoin Cash rose 75% over the past 90 days, reaching $526.5 on July 1 before retreating below $485.
2. IntoTheBlock reported a 122% surge in whale transactions on July 4, totaling $482 million, with a notable 10,000-BCH transfer worth $5 million.
3. Technical analysis highlighted a bullish signal as the 50-day moving average crossed above the 200-day MA on BCH’s hourly chart.
4. Open interest in BCH derivatives rose 27.4% to $578 million, with analysts monitoring the $478-$508 range as a key support zone.
5. The Bitcoin Cash Foundation released Knuth v0.68.0, unifying the node’s codebase and paving the way for future UTXO efficiency upgrades.
Description
Bitcoin Cash (BCH) traded at $482.54 on July 5, down 0.23% over the past 24 hours, following a broader retreat from its recent multi-month high, according to CoinDesk Research's technical analysis model. As for the broader crypto sector as gauged by the CoinDesk20 Index (CD20), it is up 0.27% during the same period. On July 1, BCH reached $526.5 — its highest price in eight months — as market enthusiasm, whale accumulation, and speculative inflows helped propel the token more than 75% higher ove...
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