BCH Gains 5%, Exhibits Golden Cross Pattern in BTC Pairing

Bitcoin Cash Climbs Over 5%, Hits Six-Month Peak as BCH/BTC Prints Golden Cross Signal

Bitcoin Cash (BCH) has gained more than 5% in the past day, standing out in a largely quiet crypto market while Bitcoin itself remained stable. The surge pushed BCH to its highest price since December 2024, fueled by strong trading volumes and favorable technical indicators.

BCH’s price rose from $491.25 to as high as $528 before pulling back to around $516, according to CoinDesk data. The price jump coincided with a notable increase in trading activity, with over 120,000 BCH traded in a single hour—nearly triple the usual daily volume—highlighting a surge in trader interest.

Despite the price rally, blockchain data paints a mixed picture. CoinDesk’s AI research noted a significant decline in network activity, with daily active addresses on the BCH blockchain dropping to their lowest levels in six years. This suggests the recent price movement may be driven more by short-term speculation than by sustained user growth or adoption.

AI Market Insights Include:

• From June 30 at 13:00 UTC to July 1 at 12:00 UTC, BCH rose 5.8%, moving from $491.25 to $519.65.
• The trading range during this time spanned $37.80 (7.7%), peaking at $527.37 at 03:00 UTC on July 1.
• Resistance formed near $527, while support held firm between $519 and $520, indicating continued bullish sentiment.
• At 01:00 UTC, trading volume spiked sharply as over 120,000 BCH changed hands.
• In the last trading hour (11:30–12:29 UTC on July 1), BCH initially rose 0.55% before slipping 0.71%, closing at $518.85.

Golden Cross Signals Possible Further Upside

On the technical side, the BCH/BTC trading pair has advanced almost 20% in the past month, reaching a six-month high of 0.0049. This rise has triggered a golden cross—a bullish technical pattern where the 50-day simple moving average (SMA) crosses above the 200-day SMA.

The golden cross is widely viewed as a sign of strengthening upward momentum, suggesting the potential for further gains. If the trend persists, Bitcoin Cash could be positioned for a longer-lasting rally relative to Bitcoin, possibly extending across several weeks or even months.