Bitcoin’s (BTC) Offshoot Bitcoin Cash Has collected 7% to $ 647 in the last 24 hours and revised valuations last seen in April 2024, according to Data Source Coindesk.
The rally follows a period of extreme bearish market mood for the token, according to the data tracking platform santiment.
“Historically, prices move in the opposite direction of the audience’s expectations. Then a strategy implements to buy when the crowd is scared and sells when the crowd becomes greedy continues to work extremely well for most altcoins,” Santiment said at X, explaining BCH’s recovery.
Tokens Rally matches the wider risk-on mood that was triggered by Wednesday’s Fed Rate Cut and the market’s expectations of continued liquidity that eased in the coming months. Several tokens, including dot, sui, jup and near, have seen similar gains over the last 24 hours, while smaller coins such as Pengu have brought the charge with impressive double -digit climbs.
Possible (SEK) Decision to authenticate generic listing standards for item and crypto -Tfs without reviewing individual reviews for each product. This feature is expected to speed up the introduction of new products tied to a number of tokens in the coming months.
BCH’s recent feature is based on the Bullish Breakout confirmed two months ago. In July, its price above the upper limit of a channel pattern formed by trend lines connecting heights from April and December 2024, and low from August 2024 and April 2025.
This breakout from a prolonged consolidation period suggests that the sales pressure has been absorbed, clearing the way for additional upside. The immediate resistance to seeing is 2024 high at $ 719, which may be the next key barrier for BCH to surpass.
