Bitcoin Cash Surges 7% to $647, Highest Since April 2024
Bitcoin Cash (BCH $603.27) rallied 7% in 24 hours, climbing to $647 and reaching levels not seen since April 2024, according to CoinDesk data.
The upswing follows the Federal Reserve’s recent rate cut and rising expectations for faster approvals of crypto ETFs in the U.S., fueling a broader risk-on sentiment. Other cryptocurrencies, including DOT, SUI, JUP, and NEAR, posted gains, while smaller coins like PENGU saw double-digit increases.
Data from Santiment shows BCH had been under extreme bearish pressure. “Historically, prices move opposite to the crowd’s expectations. Buying when the crowd is fearful and selling when greedy has proven effective for many altcoins,” the analytics platform said on X, explaining BCH’s surge.
The SEC’s approval of generic listing standards for commodity and crypto ETFs—allowing products to launch without individual reviews—is likely supporting bullish sentiment and paving the way for a wider range of token-linked investment products.
Technically, BCH’s rally builds on a July breakout, when its price rose above a channel formed by highs from April and December 2024 and lows from August 2024 and April 2025. This suggests selling pressure has eased. Immediate resistance stands at the 2024 high of $719, the next key level for BCH.
