Bitcoin Cash (BCH) rallied over 13% in the past 24 hours, becoming the second-largest gainer in the cryptocurrency market. The altcoin's trading volume soared 91% to $1.07 billion, pushing its price past $400 for the first time in over a month. Bitcoin SV (BSV) also jumped 6.88%, reaching a market capitalization of $738 million.
Read Bitcoin Cash Price Prediction 2025, 2026 - 2030
The impressive gains of Bitcoin spinoffs like BCH and BSV outshined even Bitcoin (BTC) itself, which rose 4.75% over the same period. As the apex cryptocurrency’s price hit a staggering $91,608.96, retail traders appeared to seek more affordable alternatives, contributing to the rise of BCH and BSV.
The surge comes as the overall market recovers from a recent sell-off. Both BTC and Ethereum (ETH) saw 5% gains, suggesting renewed investor confidence. However, BCH stood out due to its technical breakout from a falling wedge pattern—a bullish signal indicating a trend reversal. The price also crossed its 50-day moving average, suggesting potential for further gains.
Also Read: Bitcoin SV Price Prediction 2025-2030
Analysts predict that if momentum continues, BCH could aim for its next major resistance at the 200-day moving average. The MACD indicator, which tracks momentum, also pointed to increasing buying pressure.
Interestingly, this crypto rally is happening despite significant outflows from Bitcoin ETFs. Investors withdrew $143 million from Bitcoin ETFs on Tuesday, following a $217 million pullback earlier in the week. However, U.S. Commerce Secretary Howard Lutnick’s hints that President Donald Trump might ease 25% tariffs on Canada and Mexico have boosted market sentiment.
With strong technical indicators and renewed optimism, Bitcoin Cash could continue its bullish trend, making it a cryptocurrency to watch closely.
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