Bitcoin News Today: Bitcoin Cash Surges 18.2% on Strong Whale Accumulation and Bullish Technicals

Bitcoin Cash (BCH) is gaining traction as large holders intensify their accumulation, pushing the price above $570 and signaling potential upward momentum. On-chain data from IntoTheBlock shows a significant net inflow of 66,040 BCH into wallets holding at least 1% of the total supply on July 20, marking the largest whale activity since July 4 [1]. This move follows a prior accumulation of 103,520 BCH recorded just four weeks earlier, reinforcing the pattern of sustained institutional or fund-driven interest in the asset [1].

The recent price action from $483 to $571 since early July highlights a strong correlation between whale behavior and price performance. Analysts suggest that if BCH maintains its position above $570, it could trigger a new rally in early August. However, the $600 psychological level remains a key resistance that needs to be tested for a more substantial move [1].

Technically, BCH is currently trading above the 20-day moving average of $530.70, confirming a short-term bullish trend. The Bollinger Band indicator shows the upper band at $587.10, a level previously tested and now a potential first obstacle for further gains. Meanwhile, the MACD line at 21.20 sits above the signal line at 17.40, suggesting potential weakening in buying pressure as histogram bars shrink [1]. A successful break above $587 with strong volume could set the stage for a retest of the March high at $610. On the downside, a drop below $560 or the 20-day moving average could trigger a pullback toward the $510 area, making the $560–$587 range a critical battleground in the coming weeks.

The recent bullish momentum in BCH coincides with broader crypto market developments. While Bitcoin (BTC) remains above $118,000, U.S. institutional demand has shown signs of cooling, with declining daily holdings reported by Mitrade [3]. However, whale activity in BCH contrasts with this bearish signal, as large holders appear to adopt a more defensive posture through continued accumulation [2]. This divergence suggests that BCH could outperform the broader market in the near term.

Market analysts are also watching the upcoming Bitcoin halving event, which has historically driven bullish sentiment. With Bitcoin’s block reward set to decrease, the supply dynamics could positively affect related assets like BCH, especially those with similar technical and economic frameworks [2]. While some analysts project a potential price target of $150,000 for BCH, such forecasts remain speculative [5]. The current environment is more closely influenced by on-chain metrics, institutional adoption, and macroeconomic expectations, such as the potential for a Federal Reserve rate cut in 2025 [4].

Despite the optimistic technical signals, the rally remains fragile. On-chain data highlights the importance of maintaining key support and resistance levels, and volatility continues to dominate the short-term outlook. Market participants are closely monitoring for signs of further accumulation or potential distribution, with any large whale movements likely to influence price direction [2].

The interplay between bullish accumulation and bearish indicators underscores the speculative nature of the cryptocurrency market. While Bitcoin Cash appears to be gaining strength from whale activity and favorable technical conditions, broader market dynamics and macroeconomic factors will play a decisive role in shaping its trajectory over the coming weeks. Investors remain cautiously optimistic, with some viewing the current price action as a buying opportunity and others bracing for potential corrections [6].

Sources:

[1] Coinspeaker – [https://www.coinspeaker.com/bitcoin-cash-price-surges-past-570-as-whale-accumulation-hits-monthly-high/](https://www.coinspeaker.com/bitcoin-cash-price-surges-past-570-as-whale-accumulation-hits-monthly-high/)

[2] Blockchain – [https://blockchain.news/news/20250730-bitcoin-cash-bch-holds-566-support-as-halving-momentum-builds](https://blockchain.news/news/20250730-bitcoin-cash-bch-holds-566-support-as-halving-momentum-builds)

[3] Mitrade – [https://www.mitrade.com/insights/news/live-news/article-3-995115-20250730](https://www.mitrade.com/insights/news/live-news/article-3-995115-20250730)

[4] FXStreet – [https://www.fxstreet.com/cryptocurrencies/news/bitcoin-holds-116k-as-price-consolidates-amid-strong-trend-and-policy-tailwinds-202507291138](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-holds-116k-as-price-consolidates-amid-strong-trend-and-policy-tailwinds-202507291138)

[5] CoinCentral – [https://coincentral.com/bitcoin-hits-new-highs-cloud-mining-popularity-soars-swl-miner-becomes-a-new-trend/](https://coincentral.com/bitcoin-hits-new-highs-cloud-mining-popularity-soars-swl-miner-becomes-a-new-trend/)

[6] Mitrade – [https://www.mitrade.com/insights/news/live-news/article-3-993929-20250729](https://www.mitrade.com/insights/news/live-news/article-3-993929-20250729)