Bitcoin Cash Jumps Nearly 7% to $647, Highest Since April 2024
Bitcoin Cash (BCH $603.27) surged 7% in the past 24 hours, reaching $647 and hitting levels not seen since April 2024, according to CoinDesk data.
The rally follows the Federal Reserve’s recent rate cut and growing market expectations for faster approvals of crypto ETFs in the U.S., contributing to a broader risk-on sentiment. Other tokens such as DOT, SUI, JUP, and NEAR also posted gains, while smaller coins like PENGU saw double-digit jumps.
Analytics platform Santiment noted that BCH had been under extreme bearish pressure prior to the rally. “Historically, prices move opposite to the crowd’s expectations. Buying when the crowd is fearful and selling when greedy works well for many altcoins,” Santiment said on X, explaining BCH’s recent upswing.
The SEC’s approval of generic listing standards for commodity and crypto ETFs—allowing new products to launch without individual reviews—is likely reinforcing optimism, paving the way for broader access to token-linked investment products.
From a technical perspective, BCH’s gains build on a July breakout, when its price surpassed the upper boundary of a channel formed by highs from April and December 2024 and lows from August 2024 and April 2025. This breakout signals that prior selling pressure has eased. Immediate resistance is at the 2024 high of $719, the next potential target for the token.
About The Author
More Stories
DOGE drops to $0.18 amid long-term holder exits and a looming death-cross price pattern.
Asia Markets: Cautious Calm Settles Over Bitcoin as Risk Positions Rebuild
“Analyst Dubs It ‘Bitcoin’s Silent IPO’ While Dissecting Market Stagnation in Viral Essay”