The post Bitcoin Cash (BCH) Bulls Launch Solid Attack With 30% Weekly Gains appeared on BitcoinEthereumNews.com.

Bitcoin Cash (BCH) bulls showed up strong in the last 24 hours, earning its place in the list of the top gainers. The cryptocurrency which was previously overshadowed by its more popular counterparts rallied by over 20%. BCH has been on an overall bearish trend since the second week of December, with a clear resistance line forming on the way down. Meanwhile, its bottom range in February also aligned with its August 2024 low, forming clear support. Demand has been building up after retesting support at the end of February, BCH up for some recovery in the first week of March. It has so far bounced back by over 44% from its lowest price in February. Most of those gains occurred in the last 24 hours, during which the bulls rallied by about 24%. Bitcoin Cash | Source: TradingView The bullish momentum managed to break through Bitcoin Cash’s 3-month descending resistance, indicating a potential trend reversal. BCH demand makes a splash in both the derivatives and spot segments Bitcoin cash’s rally this week was backed by a sizable surge spot and derivatives activity. Derivatives volume surged by over 94% and open interest was up 84% in the last 24 hours. Spot segment activity pivoted from negative to positive in the last week of February and has since then been ticking upwards. For context, spot inflows in the last 24 hours were more than double the figure recorded on 28 February. Bitcoin Cash spot flows | source: Coinglass The spot and derivatives segment activity was also characterized by a noteworthy uptick in whale activity. For context, whale flows also kicked off the week with a clear surge in activity. Whale inflows climbed to 153,380 BCH as of 3 March. Meanwhile, whale outflows on the same day peaked at 50,870 BCH which was…

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Filed under: News - @ March 6, 2025 3:29 pm