Bitcoin Cash surged to a two-month high above $499 as bulls took control during an aggressive rally fueled by institutional demand and broader market uncertainty. The move puts BCH within striking distance of the psychologically critical $500 level — a zone last touched during April’s breakout attempt.
News Background
- BCH’s rally comes as escalating global trade tensions drive demand for non-sovereign assets.
- The U.S. and China are once again ramping up tariff pressure, targeting high-tech sectors and stoking concerns over global supply chains.
- Risk assets have responded unevenly, but Bitcoin Cash has clearly benefited from capital rotation into mid-cap majors.
- The Federal Reserve’s stance remains firmly hawkish, with policymakers holding rates at 4.25%-4.50% and signaling further quantitative tightening.
- Bitcoin Cash, despite a history of volatility and fading retail hype, has recently shown signs of institutional reappraisal.
- Analysts point to its scaling simplicity, fast settlement times, and long-term technical base above $400 as factors drawing renewed interest.
If momentum persists, BCH could attempt to flip $500 into a long-term support — a move that could change its macro structure heading into Q3.
Price Action
BCH rallied from $461.87 to a high of $492.08 over 24 hours, backed by strong inflows. The breakout began in earnest during the 13:00–14:00 window, when volume spiked to 152,140 units — more than five times the hourly average — confirming institutional buying.
The price rejected off the $500 barrier multiple times, slipping to $490.46 during the early morning session before stabilizing. A brief sell-off at 04:51 triggered a quick dip to $491.47, but price soon reclaimed $485, showing signs of resilience and consolidation just below key resistance.
Technical Analysis Recap
- Bitcoin Cash posted a 6.5% gain over 24 hours, rising from $461.87 to $492.08.
- Breakout confirmed by 5x volume surge (152K+) during the 13:00–14:00 hour.
- Price cleared long-term trendline resistance near $472 and held above the 100-hour SMA.
- Multiple tests of the $500 barrier suggest psychological resistance remains intact.
- Support formed at $490.46; consolidation zone now between $485–$492.
- RSI rising with room to run; MACD crossing into bullish territory.
- Bulls may target $505 or $520 next if $500 is convincingly broken.
