Bitcoin Cash Surpasses $500, Achieving $10 Billion Market Cap in 2025
Bitcoin Cash (BCH) rose 2% on June 27, reaching $500, marking its first high in 2025. It outperformed major cryptocurrencies like Bitcoin, Ethereum, and Cardano, which saw declines due to negative US inflation data.
Key points:
- BCH traded as high as $506, with a market cap exceeding $10 billion.
- Trading volumes indicate sustained buy-side pressure.
- The Core Personal Consumption Expenditures Index (PCE) increased by 2.3%, affecting interest rate expectations.
- BCH’s performance contrasts with other Layer 1 tokens that declined.
Technical Analysis:
- BCH shows a Double Top pattern, suggesting a potential trend reversal.
- Current resistance at $510 and support around $455, with downside targets near $425 and $363 if the trend reverses.
- Relative Strength Index (RSI) is at 65.79, indicating possible overbought conditions.
Investors are cautious; a close above $510 could invalidate bearish signals.