Bitcoin’s (BTC) Offhoot bitcoin cash rallied 7% to $ 647 in the past 24 hours, the re -review of values last seen in April 2024, according to Data Source CoinDesk.
The rally complies with a period of intense sentiment in the bearish market for the token, according to the Santiment data monitoring platform.
“Historically, prices have moved to the opposite of most people’s expectations. Thus, implementing a purchase strategy when the crowd is afraid and selling when most people get greedy to continue to work well for most altcoins,” Santiment said to X, explaining BCH’s uprising.
The token rally aligned with a broader risk-in sentiment sparked by Wednesday’s feed rate cut and market expectations for ongoing liquidity easing in the coming months. Many tokens, including DOT, Sui, Jup, and closely, have seen similar gains over the past 24 hours, while smaller coins such as Penguin have led the charge with a wonderful double digit.
Possible Greasing the Fed-Led Bullish Market Sentiment is the Securities and Exchange Commission’s (Sec) Deciding to approve the standards on the list of goods for goods and Crypto ETFs without undergoing individual reviews for each product. This step is expected to accelerate the introduction of new products tied to various tokens in the coming months.
The recent BCH transition is building a bullish breakout that confirmed two months ago. In July, its price advanced above the upper border of a channel pattern formed by trends connecting highs from April and December 2024, and lows from August 2024 and April 2025.
This breakout from a prolonged period of integration suggests that the sale of pressure is absorbed, cleaning the method for further upside down. The immediate objection to watch is 2024 high at $ 719, which could be the next key hurdle for BCH surpassed.
