Latest news with #BitcoinCash
Yahoo
3 days ago
- Business
- Yahoo
Bitcoin Cash Surges Past $580 as Analysts Predict Breakout Toward $620–$680 Range
Bitcoin Cash (BCH) extended its recent rally on Sunday, rising 5.25% to $583.64 as of 08:54 GMT, according to CoinDesk data. The token has now gained 10.5% over the past week, 15.7% over the last two weeks and 17.3% over the past 30 days. Sunday's breakout has caught the attention of several technical analysts, who flagged bullish signs in both price action and trading structure. Analyst 'CW' noted that BCH is 'breaking through the sell wall' — a term traders use to describe a heavy concentration of sell orders at a specific price level. When price breaks through such a wall, it often signals that buyers are absorbing that supply and that upward momentum could accelerate. CW pointed to $620 as the next potential target if this breakout holds. Another analyst, 'Ultimae GL,' focused on the long-term chart, observing that BCH had cleared a resistance level that had held for an extended period. Long-term resistance typically refers to a price ceiling that has rejected upward moves on multiple occasions. When that barrier is broken, it may signal the beginning of a new upward trend. Ultimae GL cautioned that traders might want to wait for a 'decisive breakout' — which usually means a strong daily close above the resistance — before entering, but still projected that BCH could climb as high as $680 in the near future. A third analyst, 'XForceGlobal,' described the current price structure as highly bullish. They noted that BCH has stayed above its so-called 'base trendline' for about a month. A base trendline is a diagonal line connecting the series of higher lows in an uptrend, and continued price movement above it suggests that buyers are consistently stepping in at higher prices—another sign of building strength. The analyst described the rally as 'not just good news,' but 'fantastic,' given the sustained buying activity. Bitcoin Cash, a fork of bitcoin that launched in 2017, is designed to serve as a peer-to-peer digital currency with faster, cheaper transactions. Its recent upward trajectory, combined with accelerating volume and bullish chart setups, has renewed interest from both retail and technical traders. Technical Analysis Highlights According to CoinDesk Research's technical analysis data model, BCH gained 5.62% in the 24-hour period from July 26 at 09:00 UTC to July 27 at 08:00 UTC, rallying from $554.54 to $584.66 within a $33.61 intraday range. Two major volume spikes occurred at 01:00 and 06:00 UTC on July 27, with volume peaking at 80,230 and 120,748 units, respectively. Support zones have emerged at $556–$558 and $568–$570 following consolidation; short-term resistance is established near $585. In the final trading hour, BCH rose an additional 0.46%, reaching an intraday high of $584.95. Fresh support formed at $583–$584, suggesting ongoing bullish momentum. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Bitcoin Cash Holds Above $500 After Volume-Driven Morning Rally
Bitcoin Cash (BCH) traded in a relatively narrow range over the past 24 hours, closing at $505.96 as of 17:13 UTC on July 9, up 0.43%, according to CoinDesk Research's technical analysis model. After opening at $503.82, BCH fluctuated between an intraday low of $497.85 and a high of $509.48, maintaining a firm position above the $500 threshold throughout the session. The most notable price action occurred during early trading hours, when BCH climbed rapidly from $501.54 to a peak of $514.24. This move coincided with a burst in trading volume, which reached 64,585 units at 02:00 UTC—nearly four times the 24-hour average of 16,708 units—suggesting accumulation by large holders. Following this surge, the price consolidated in a tighter band between $505 and $510, repeatedly testing support near $505 and resistance near $510 without breaking out in either direction. In the final hour, BCH exhibited a steady climb off a brief dip to $505.73, progressing to $506.88 by session close. A series of higher lows during this interval further emphasized the market's bullish lean, though activity remained muted, indicating disciplined positioning rather than speculative trading. Technical Analysis Highlights BCH traded within a 2.34% intraday range, between $497.85 and $509.48. Pre-dawn breakout reached $514.24 before settling into consolidation. Volume spiked to nearly 4x average at 02:00 UTC, suggesting accumulation. Support held near $505, while resistance capped near $510. Final hour showed steady upward bias on light trading activity. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
$8B BTC Movements May Have Been Preceded by Covert Bitcoin Cash Test
Movements of bitcoin cash (BCH) took place amid the mysterious transfers of $8.5 billion worth of 'Satoshi-era' bitcoin late Friday. Conor Grogan, a director at Coinbase, flagged a suspicious BCH transaction of over 10,000 tokens (worth nearly $5 million at current prices) tied to one of the whale wallets hours before the main transfers began. The move raised the possibility that someone may have gained access to legacy private keys and quietly tested them before initiating the massive BTC movements. 'There is a possibility that the owner was testing the private key in a way that wouldn't get noticed,' Grogan posted on X. 'BCH isn't monitored heavily by whale-watching services.' Eight wallets that had been dormant since 2011 each transferred 10,000 BTC to new SegWit addresses on Friday, over 14 years after initially receiving bitcoin in what is now colloquially known as the network's 'Satoshi era.'None of the wallets have, so far, been linked to any known entity or company, but the timing, scale, and manual nature of the transfers have set off alarm bells. Grogan pointed out that only one BCH address associated with the BTC cluster was touched. 'Why not sweep the others?' he asked. 'It implies the actor may not have full access.' But the timing is uncanny: just one hour after the BCH test transfer, the first of the 80,000 BTC started to move — triggering the largest Satoshi-era bitcoin movements ever recorded. So far, the new bitcoin addresses haven't forwarded funds further or deposited them on exchanges. But the BCH test could indicate someone was probing before executing a coordinated transfer, possibly to avoid triggering whale alerts or spooking the market. Other theories extend from a private key leak to even a quantum computing attack. Bitcoin's early addresses, especially Pay‑to‑Public‑Key (P2PK) formats, expose public keys after their first transaction — once available, they become theoretically crackable using Shor's algorithm if large-scale quantum hardware materializes. (Dormant wallets that have never revealed their public key are safe even in a quantum future as no public key exists to reverse-engineer.) As such, the fact that only one associated BCH wallet moved during testing while the others remained untouched suggests limited access. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
Bitcoin Cash Rally Accelerates on Whale Activity and Bullish Technical Signals
Bitcoin Cash (BCH) traded at $482.54 on July 5, down 0.23% over the past 24 hours, following a broader retreat from its recent multi-month high, according to CoinDesk Research's technical analysis model. As for the broader crypto sector as gauged by the CoinDesk20 Index (CD20), it is up 0.27% during the same period. On July 1, BCH reached $526.5 — its highest price in eight months — as market enthusiasm, whale accumulation, and speculative inflows helped propel the token more than 75% higher over the past three months. The surge, briefly taking BCH above $528, coincided with a substantial increase in daily trading volume, which tripled to over 120,000 tokens exchanged within a 24-hour span. Much of the buying interest was attributed to capital rotation into mid-cap cryptocurrencies, as investors sought gains beyond the majors during a period of broader crypto market strength. On-chain fundamentals, however, remain lackluster. Daily active BCH addresses have dropped to a six-year low, suggesting that the rally is being driven more by speculation than by increased network utility. Despite this disconnect, technical indicators point to further upside potential. In late June, a golden cross formation appeared on BCH's hourly chart—where the 50-day moving average crossed above the 200-day MA—a historically bullish signal. Adding to the speculative momentum, open interest in BCH derivatives rose 27.4% this past week to $578 million. Analysts are watching the $478 to $508 range closely, viewing it as a key support zone that could stabilize the current pullback. On July 4, analytics firm IntoTheBlock reported a 122.45% increase in large whale transactions involving over $100,000 in BCH, totaling 957,440 tokens worth approximately $482 million. This sharp rise in high-value transfers echoed earlier activity spikes seen in February, May, and late June—all of which preceded major price movements. A separate development on July 5 raised further intrigue, when a 10,000-BCH transaction worth roughly $5 million was flagged just prior to the historic movement of 80,000 dormant BTC — valued at over $8.5 billion. Experts suggest the BCH transfer may have served as a key test of wallet access before executing the massive Bitcoin transaction, which was the largest of its kind in over a decade. Meanwhile, the Bitcoin Cash Foundation published its July 1 update highlighting the release of Knuth v0.68.0, which unifies the node's codebase and lays the groundwork for future UTXO efficiency upgrades. While no major adoption headlines emerged this week, smaller community projects continue to explore BCH-based micropayments and NFTs. Roger Ver, a longtime proponent of Bitcoin Cash, remains publicly active in promoting BCH as a scalable alternative to bitcoin, though his recent advocacy has not been accompanied by any new institutional product launches. Technical Analysis Highlights BCH traded within a $7.52 (1.57%) range between $481.83 and $489.35 from July 4 15:00 to July 5 14:00. Strong support was observed at $481.83 with elevated volume during the 04:00 hour on July 5. Resistance formed at $489.43, where repeated selling pressure capped gains. From 13:06 to 14:05 UTC on July 5, BCH gained $1.20 (0.25%), briefly breaking above $483.25 on rising volume. Support in the final minutes of the session formed between $483.35 and $483.45, with price peaking at $483.81 during the 14:03 candle. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
05-07-2025
- Business
- Time of India
Cryptocurrency Live News & Updates : Singapore Fines Firms in $2.2B Money Laundering Case
05 Jul 2025 | 11:35:11 PM IST Nine financial institutions, including UBS and Citigroup, were penalized a total of S$27.5 million ($21.5 million) for their roles in Singapore's largest money laundering scandal, which involved the Fujian gang and led to significant asset seizures. In recent developments, Singapore's Monetary Authority has concluded a two-year investigation into a massive $2.2 billion money laundering case, resulting in fines for nine financial firms, including UBS and Citigroup. This scandal, linked to the Fujian gang, saw authorities seize luxury properties, cash, and cryptocurrency. Meanwhile, Bitcoin Cash has experienced a notable rally, rising 75% over the past 90 days, driven by whale activity and bullish technical signals, despite low network usage. Ethereum is currently in a consolidation phase, trading around $2,500, but shows signs of accumulation, indicating potential for a bullish breakout. The ongoing trend of whale accumulation and reduced exchange balances suggests a shift towards long-term holding among investors. Additionally, the U.S. stock market's performance, particularly the Nasdaq's outperformance, reflects a narrative of U.S. exceptionalism, which may positively influence Bitcoin's value. As the cryptocurrency landscape evolves, these developments highlight the interplay between regulatory actions, market dynamics, and investor behavior. Show more
