BCH Remains Over $500 Mark After Momentum-Fueled Morning Push

Bitcoin Cash Holds Above $500 After Early Spike Hints at Institutional Buying

Bitcoin Cash (BCH) remained solidly above the $500 mark on July 9, following an early morning rally that suggested larger investors may be accumulating the token.

BCH briefly surged to $514.24 in the early hours before consolidating between $505 and $510—a range that analysts believe could indicate quiet positioning by institutional traders rather than high volatility.

As of 17:13 UTC, BCH was trading at $505.96, representing a modest 0.43% increase over the previous 24 hours, according to technical data from CoinDesk Research. Throughout the session, the $500 level served as dependable support, helping stabilize price action.

The trading day started with BCH opening at $503.82 and swiftly climbing from $501.54 to its session high of $514.24. The rally coincided with a significant spike in trading volume, with activity hitting 64,585 tokens at 02:00 UTC—nearly quadruple the typical daily average of 16,708 units. This surge in both price and volume is often interpreted as a sign of institutional involvement.

After the initial burst, BCH settled into a sideways trading pattern, holding between support near $505 and resistance around $510. This period of consolidation indicated cautious market behavior, as traders appeared to be assessing their positions rather than driving further volatility.

In the final hour of trading, BCH recovered slightly from a dip to $505.73, closing higher at $506.88. The formation of higher lows during this time pointed to a mild bullish bias, although trading volumes remained light, signaling controlled accumulation rather than aggressive buying.

Technical Highlights:

• Trading Range: BCH fluctuated within a 2.34% span, with lows at $497.85 and highs at $509.48.
• Morning Rally: Price spiked to $514.24 before moving into a stable range.
• Volume Surge: Trading volume hit 64,585 units at 02:00 UTC, almost four times the daily average.
• Support & Resistance: Strong support held at $505, while resistance kept price capped near $510.
• Closing Behavior: Price edged higher into the close, with higher lows and subdued trading activity suggesting ongoing accumulation.