Bitcoin Cash broke above $644 this week, hitting levels not seen since April 2024 — www.naijnaira.com reports.
Data from Santiment revealed BCH gained 7% against Bitcoin as market sentiment leaned strongly bearish.
That bearish mood gave BCH unexpected strength, making it the 16th largest cryptocurrency by market value.
“Fear-driven markets often provide the best setups,” Santiment noted while pointing to BCH’s surge as a textbook contrarian rally.
Meanwhile, Bitcoin continues to wrestle with resistance close to $117,000, according to Glassnode data cited in the original report.
A supply cluster at that level has created a major roadblock, slowing Bitcoin’s advance despite technical indicators turning more bullish.
At the time of writing, Bitcoin traded around $117,273 with a 0.82% daily gain and nearly 3% growth over the past week.
The Moving Average Convergence Divergence (MACD) is signaling a potential bullish crossover, while the Relative Strength Index (RSI) sits at 61.65.
Another twist came from a dormant wallet that suddenly moved 1,000 BTC, originally bought in 2014 at about $840 per coin.
The stash, now worth over $116 million, was split across three wallets, though the mysterious owner remains unknown.
Such dormant wallet activity tends to rattle markets, especially when Bitcoin is testing key resistance zones.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
