Bitcoin Cash Climbs 7% to $647, Highest Since April 2024
Bitcoin Cash (BCH $603.27) surged 7% in the past 24 hours, reaching $647 and hitting levels not seen since April 2024, according to CoinDesk data.
The rally is driven by market optimism following the Federal Reserve’s recent rate cut and growing expectations for faster approvals of crypto ETFs in the U.S. Other cryptocurrencies, including DOT, SUI, JUP, and NEAR, also posted gains, while smaller coins like PENGU recorded double-digit increases.
Analytics platform Santiment highlighted that BCH had faced extreme bearish sentiment prior to this upswing. “Historically, prices move opposite to the crowd’s expectations. Buying when the crowd is fearful and selling when greedy has worked well for many altcoins,” Santiment said on X.
The SEC’s approval of generic listing standards for commodity and crypto ETFs—allowing products to launch without individual reviews—is likely supporting the bullish momentum and paving the way for more token-linked investment products.
From a technical perspective, BCH’s rally builds on a July breakout, when its price exceeded a channel formed by highs from April and December 2024 and lows from August 2024 and April 2025. This indicates that prior selling pressure has eased. Immediate resistance stands at the 2024 high of $719, which could be the next key target for the token.
