Bitcoin Cash Climbs Near $500 Mark on Sudden 500% Volume Surge

Bitcoin Cash (BCH) climbed to a two-month high near $499 on Thursday, lifted by rising institutional demand and shifting trends in crypto markets. As uncertainty swirls around traditional investments, traders are increasingly eyeing mid-cap cryptocurrencies like BCH, pushing it close to the significant $500 level—a mark last tested during April’s unsuccessful rally.

Market Landscape

• Fresh trade tensions between the U.S. and China are injecting volatility into global markets, as new tariffs on high-tech goods fuel investor caution.
• Amid these pressures, some investors are moving capital into digital assets, with Bitcoin Cash gaining momentum as an alternative store of value.
• The Federal Reserve’s steadfast hawkish stance—keeping interest rates between 4.25% and 4.50% and signaling ongoing monetary tightening—is adding further strain to traditional risk assets.
• Though often overshadowed by larger cryptocurrencies, BCH is capturing interest thanks to its scalability, quick transactions, and steady support above the $400 level.

Price Action

Over the last 24 hours, BCH advanced from $461.87 to a peak of $492.08, driven by strong buying activity. The biggest surge occurred between 13:00 and 14:00, when trading volume jumped past 152,000 units—more than five times the usual hourly average—suggesting potential institutional accumulation.

Despite repeated pushes toward $500, BCH encountered resistance, briefly slipping to $490.46 during early trading. A quick drop around 04:51 took prices down to $491.47, but buyers quickly stepped in, lifting the price back above $485 and keeping the coin consolidating just below the key resistance zone.

Technical Snapshot

• BCH rose 6.5% over the past day, climbing from $461.87 to $492.08.
• The rally was accompanied by a significant fivefold surge in hourly trading volume, peaking at 152,140 units.
• Prices broke above long-term trendline resistance near $472 and remained strong above the 100-hour simple moving average.
• The $500 level continues to serve as a major psychological barrier.
• Support is evident around $490.46, with current trading consolidating between $485 and $492.
• Technical indicators remain bullish, with the RSI elevated yet leaving room for further gains, while the MACD signals continued upward momentum.
• A decisive move above $500 could pave the way toward targets in the $505–$520 range as Q3 approaches.