Bitcoin Cash (BCH) has risen to a new yearly high, trading at more than $621 on Thursday after reaching an intraday peak at $634.3, boosted by Bitcoin’s record-breaking rally. On-chain and derivatives metrics show strong bullish momentum, with increasing Open Interest reaching its highest point since April 2024 and a buy-heavy phase developing. Technical gauges like a bullish reading of 64 in the RSI and a buy signal on the MACD underpin the expectation for additional gains, with bulls targeting beyond the $700 price level if BCH manages to close above the critical $640 resistance zone.

KEY LOOKOUTS

• BCH recently surged to $634.3, a new high for 2025, following in the footsteps of Bitcoin’s all-time high.

• Taker CVD futures went positive and up, signaling consistent buying pressure.

• BCH futures OI rose to $683.96 million, a record high since April 2024, indicating new capital inflow.

• RSI stands at 64 and a bullish MACD crossover indicate additional upside potential towards $700+.

Bitcoin Cash (BCH) is enjoying robust bullish momentum, rising above $621 on Thursday after touching a fresh yearly high of $634.3, led by Bitcoin’s record high. On-chain and derivative metrics indicate persistent buying pressure, with Futures Taker CVD remaining positive and Open Interest reaching $683.96 million, the highest since April 2024. Technical analysis supports the positive prognosis, as RSI remains at 64 and MACD indicates a bullish crossover, which means that a firm break above the resistance level of $640 can lead the rally towards the $700 level and beyond.

Bitcoin Cash (BCH) reached a new yearly high of $634.3, propelled by Bitcoin’s all-time high rally and firm bullish strength. Increased Open Interest and favourable on-chain readings indicate further improvement, with bulls eyeing the $700 level if price breaks above $640 resistance.

• Bitcoin Cash (BCH) set a new yearly high of $634.3 this week.

• The upsurge is led by Bitcoin’s all-time high.

• Futures Taker CVD turned up in the positive direction, indicating a buy-led phase.

• Open Interest in BCH futures reached $683.96 million, the highest since April 2024.

• RSI is at 64, a strong bullish indication.

• MACD reflects a bullish crossover with green histogram bars pointing upwards.

• A daily close above $640 may unlock the way to the $700+ target.

Bitcoin Cash (BCH) has drawn market attention following its new annual high, underpinned by renewed investor confidence and upbeat market sentiment. Momentum in the cryptocurrency has been fuelled by Bitcoin’s record-breaking breakout to an all-time high, which has infused confidence throughout the wider crypto market. Greater participation by traders and investors is observed, with derivatives indicating increasing activity and new capital entering the market. This upbeat atmosphere has further fortified BCH’s position among the week’s best-performing assets.

BITCOIN DAILY PRICE CHART

SOURCE: TradingView

Bitcoin Cash’s price appreciation is also an indicator of general optimism about digital assets, as traders expect ongoing adoption and expansion in the world of blockchain. Solid on-chain indicators and growing demand in futures markets indicate that BCH is still well-placed to take advantage of the current wave of excitement in the crypto market. With sentiment remaining upbeat, Bitcoin Cash continues to draw short-term traders and long-term holders alike, further underpinning its place in the cutthroat world of cryptocurrencies.

TECHNICAL ANALYSIS

The technical configuration of Bitcoin Cash is still bullish, with the price lingering around the crucial $640 resistance point following the recent record high of $634.3. The Relative Strength Index (RSI) stands at 64, representing high bullish momentum, while the Moving Average Convergence Divergence (MACD) has also established a bullish crossover, which is supported by increasing green histogram bars. Such signals reflect increasing buying pressure, and a strong daily close above $640 can be a breakout trigger for BCH to propel towards the subsequent resistance level at $719.5 and place the $700 target within easier reach.

FORECAST

If Bitcoin Cash (BCH) can close above the $640 resistance level, the bullish trend can gather pace, leaving the way open for the $700 level and beyond. Favorable on-chain data, rising Open Interest, and a buy-dominated phase favor this development, indicating that buyers are still in command. Under such circumstances, the next significant resistance level would be at $719.5, where some profit-taking may take place, but overall sentiment may continue to support higher prices.

Conversely, if BCH cannot hold onto a breakout through $640, it can expect to face a temporary retreat as traders take profits. Near-term support is found in the $600 area, with more significant support at $580. If prices fall through these levels, the bullish setup will be compromised and the door opened to further losses down into the $550 region, particularly if sentiment in the wider markets becomes softer or Bitcoin’s rally runs out of steam.