Bitcoin Cash (BCH) has seen a remarkable uptrend, with a 112% increase in whale accumulation over the week, signaling strong confidence from savvy investors. This surge suggests that Bitcoin Cash’s price could soon surpass Bitcoin’s. The digital currency has experienced a 70% increase over the last three months, maintaining a consistent uptrend from the mid-April market low, while other cryptocurrencies have struggled with fluctuating momentum amid broader market uncertainties.
Recent developments in trade negotiations spurred by President Trump’s tariff announcements have introduced new macroeconomic uncertainties, potentially positioning BCH for further outperformance.
BREAKING: President Trump announces new tariff rates, affecting multiple countries, potentially stirring market uncertainties. #TradeTalks #Tariffs
Analytics firm IntoTheBlock reported a significant 122.45% jump in large transactions involving BCH, indicating a clear trend of accumulation with transactions totaling $482 million. Additionally, Coinglass data reveals that BCH Open Interest has skyrocketed, reaching levels not seen since its mid-2024 peak, with a 167% increase since mid-April, hitting $503 million.
However, despite the rising interest and speculative activity, the demand for short positions, as indicated by a negative funding rate, and a six-year low in daily active BCH addresses signal that the recent rally might be driven more by speculation than actual network adoption. With over 81% of Bitcoin Cash holders currently in profit, the market is at risk of a sell-off, potentially forming a local top as traders may look to cash in their gains.
While Bitcoin Cash is far from surpassing Bitcoin in market capitalization, the formation of a 15-month falling wedge could signal mid-term outperformance. BCH is nearing a critical point where an ascending channel meets the wedge’s resistance, setting up a potential breakout. Should the breakout succeed, BCH could see a significant upturn, but momentum indicators like the RSI and MACD suggest investors proceed with caution to avoid potential selling pressure or bearish reversals.
As the market eyes several fundamental catalysts for top-ranking altcoins, including pending decisions on multiple spot ETFs by year-end, Bitcoin Cash’s resilience to macro uncertainties might not be sufficient to maintain its current spotlight.
Exciting times for #BitcoinCash as it shows strong uptrend signals amidst market uncertainties. Will BCH outshine Bitcoin? Stay tuned for more updates. #Cryptocurrency #BCH
