Bitcoin Cash (BCH) has seen a significant surge of 8%, reaching $554 in the last 24 hours, even as the price of Bitcoin declines amid massive selling pressure. With a 44% increase in trading volume and growing open interest, BCH appears poised to challenge further declines in Bitcoin and target heights last seen in December 2024.
Bitcoin Cash Defies BTC Dump with 7% Gain
Bitcoin (BTC) fell below $115,000 after Galaxy Digital, a leading cryptocurrency investment firm, offloaded 30,000 BTC in under 24 hours. Liquidations surged amid Bitcoin’s sell-off, but Bitcoin Cash managed to reverse this trend.
Its intraday gains exceeding 8% place BCH among the top performers among the 100 largest cryptocurrencies by market capitalization.
These gains keep BCH on an upward trend over longer periods, with the price recovering from a low of $268 in April 2025.
Additionally, the price increase coincides with a 44% uptick in trading volume, surpassing $870 million, indicating potential buying pressure.
Crypto analyst CW notes heightened interest from whales, particularly in China.
There is a strong buying trend for $BCH on Binance and OKX, where Chinese whales are active. pic.twitter.com/49b4oiZHSd
— CW (@CW8900) July 25, 2025
Is BCH Ready for a Rally to $1,000?
BCH last traded at $1,000 in May 2021 before bears pushed it down from a peak of $1,427. Over the past year, attempts to reclaim this level fizzled out near $624 in December 2024.
While the cryptocurrency has struggled to build bullish momentum, analysts are increasingly optimistic about Bitcoin Cash’s potential to rebound toward $1,000.
In addition to a general bullish long-term sentiment surrounding crypto, the short-term view highlights robust market metrics and technical outlooks.
For instance, open interest in BCH derivatives has surged by 24% to $533 million, with trading volume increasing by 28% to over $1.3 billion.
A rise in speculative activity indicates bullish confidence in the token’s price.
The technical picture further reinforces this bullish view. The relative strength index (RSI) currently stands at 63.
Meanwhile, the moving average convergence divergence (MACD) is also displaying a bullish crossover, suggesting potential upward pressure in the short term.
If bulls can break the supply wall at $540 to $565, a retest of the $620 to $650 range may follow. Above this level, resistance beyond $700 could allow bulls to aim for $1,000. Conversely, support is positioned around $480, followed by $380.
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