Bitcoin Cash (BCH) has surged to its highest level in eight months, defying broader market volatility and signaling renewed investor confidence.
The token climbed past $526 today, marking a strong uptrend that’s been building steadily since the start of the month.
Fueling the momentum are expectations that the U.S. Federal Reserve could cut interest rates soon, with mounting political pressure on Fed Chair Jerome Powell adding urgency. While rates held steady in June, optimism about a policy shift in July has buoyed risk assets, especially in the crypto sector.
BCH has gained 75% over the past quarter and currently holds a $10.3 billion market cap. Trading activity has soared—daily volume is up over 70%—and the price now sits near $521. Analysts point to a technical breakout as a key factor behind the rally, with BCH pushing beyond a falling trendline and triggering bullish sentiment.
Open interest has also spiked by 26%, while rising liquidations of short positions suggest a potential short squeeze in play. According to analysts like Smith, BCH could be poised for a long-term move toward $1,700 if current momentum holds.
However, crypto markets remain sensitive to macroeconomic shifts, and sudden changes in sentiment could derail the uptrend. For now, though, traders appear convinced that Bitcoin Cash has more room to run.
At the time of writing, BCH has slighly dropped and is trading around $516.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
Source: https://coindoo.com/bitcoin-cash-breaks-out-can-the-rally-hit-1700/