Bitcoin News Today: Bitcoin Cash Surges 16% on Whale Accumulation and Bullish Indicators

Bitcoin Cash (BCH) has surged nearly 16% over the past week, driven by a significant increase in whale activity. On-chain data shows that large investors added over 66,000 BCH in a single day—the highest accumulation since early July—indicating growing confidence in the asset's near-term outlook [1]. The price has climbed past $570, with eyes now on the critical $600 level, a psychological threshold not touched since March 2024.

The recent rally has been fueled by strategic buying from big holders, with over 300 wallets accumulating more than 1,000 BCH in the last 72 hours. This pattern is often associated with institutional or high-net-worth investors building long-term positions. At the same time, smaller wallet selling pressure has diminished, signaling a shift in market sentiment [1]. The total market cap for BCH stands at $11.66 billion, with a daily trading volume of $614.36 million, reflecting heightened activity across the board.

Technical indicators also support a bullish case. BCH is currently trading above its 20-day moving average and the MACD line is above the signal line, both suggesting sustained buyer interest. The price is approaching the upper Bollinger Band at approximately $587, a level where previous resistance has led to price corrections. A successful close above this level could mark the beginning of a broader upward trend toward $600 and beyond [1].

However, analysts caution that while whale accumulation and technical strength are positive signs, they do not guarantee a sustained rally. A breakout from the current price range will depend on continued follow-through buying and broader market stability. The recent regulatory focus on digital assets in the U.S., including a White House report calling for clearer rules on tokenized products, may also influence institutional behavior in the coming months [1].

With momentum building and key support levels holding firm, Bitcoin Cash appears poised for a potential breakout. Traders are closely monitoring whether BCH can maintain its upward trajectory, particularly as other mid-cap altcoins continue to attract capital from Ethereum-based inflows. The coming days will be crucial in determining whether this rally can evolve into a more lasting trend.

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[1] Ripple Price Forecast: XRP eyes 16% surge, but tapering ...

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