Bitcoin Cash Rises: The Token Outshines Top 20 Cryptos
The price of Bitcoin Cash (BCH) steadied above $602 on Sunday, September 7. Based on CoinMarketCap data, it showed 10% weekly gains and became the top-performing cryptocurrency among the top 20. The increase is a reflection of traders looking for upside near Bitcoin as the price of the cryptocurrency halted below all-time highs. Bitcoin concluded the month at $108,300, down 6% from its peak of $124,500 on August 14. At the time of writing, Bitcoin was consolidating around $111,000, with a slight 2% increase on the seven-day candle, after unsuccessful attempts to retest $120,000 in early September.
BCH Set for Surge as Bitcoin Faces Range-Bound Resistance
Speculative flows have been redirected onto assets like Bitcoin Cash as a result of this performance disparity. Without the strong resistance levels that constrain Bitcoin, traders are expecting a correlated surge in this case. The market value of BCH is currently close to $11.98 billion, with $326 million in 24-hour volume supporting it. As investors diversify and stay exposed to favorable narratives around the global Bitcoin ecosystem, BCH may continue to draw capital rotation if Bitcoin stays range-bound.
Whale Accumulation Fuels BCH Rally: Next Stop $630?
As Bitcoin tries to recover its momentum above $112,000, traders looking for larger short-term returns may keep their eyes on BCH. Increased trading activity on key exchanges and growing whale accumulation are shown by on-chain measures, which imply that investor trust in BCH is still high. According to analysts, BCH may see additional rise and perhaps test resistance around $630–$650 if Bitcoin stays range-bound.
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