The post After 17% Losses in June, BCH Flashes $7M Bullish Signal appeared on BitcoinEthereumNews.com.

Bitcoin Cash price reclaimed $390 price level on June 30 to post 17% negative growth performance for June 2024. But having reversed the majority of the losses recorded when it slid to a 100-day low during the crypto market crash on June 24, market data shows bull traders positioning for a positive start to July 2024.  BCH Ends June Strongly Amid Volatile Market Conditions The global crypto markets experience extreme volatility in June 2024. After a positive start to the month, the overheated jobs data released in the US on June 7 effectively ended hopes of a Fed rate cut in H1 2024, as many risk asset investors had anticipated.  Unsurprisingly, from June 7, Bitcoin Cash (BCH) price was also caught in the crosshairs as the crypto market entered a 3-week tailspin that culminated in a major market crash on June 24. However, recent trends suggest that the June 24 crash may have marked the end of the bearish market phase, sparking hopes of another optimistic start to July 2024 for BCH and other crypto assets.  Bitcoin Cash Price Action BCHUSD | July 2024 | TradingView Looking at the BCH price action chart above, the red patch shows how BCH’s price had declined from an open price of $454.75 on June 1 to close the month around the $390 level, booking 17% monthly losses in the process.  On paper a double-digits loss performance seems a hard read, however, zooming the data shows that Bitcoin cash has registered some significant upside since the bearish market phase bottomed out June 24.  As seen below, Bitcoin cash price had slid to $344 during the market crash on June 24, its lowest in over 100-days dating back to March 2, 2024. But since then bull traders and strategic new entrants have swung into action…

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Filed under: News - @ July 1, 2024 8:10 pm