Highlights
- On-chain data shows 69% profit for BCH holders.
- Whale activity impacts BCH’s market performance.
- Institutional transactions valued at $200M in a week.
Since reaching its all-time high of $4300 in 2018, Bitcoin Cash price (BCH) has been on a steady decline, forming a descending triangle pattern on its weekly price chart. This pattern has shown a consistent narrowing of the price range each year.
Even in 2024, BCH price has faced resistance from the upper boundary of this descending triangle and peaked at around $620 in Q4 2024. But, as Q1 2025 nears its end, the BCH price momentum has continued to fade, and the range it has been trading within has become even more compressed.
In Q1 2025, the highest price reached by BCH crypto was $419, but it has since encountered resistance from both short-term (50-day) and long-term (200-day) exponential moving average (EMA) bands.
As a result, the Bitcoin cash price has dropped closer to a key support zone around $305, with BCH crypto currently trading at approximately $341.
The descending triangle pattern suggests that the BCH crypto is in a prolonged accumulation phase, and now that the pattern is nearing completion, a strong breakout could be on the horizon.
Keep reading to know more.
On-Chain Data Showcases Optimism For Bitcoin Cash Price
Bitcoin Cash remains one of the leading cryptocurrencies, with a market capitalization of $6.6 billion.
On-chain data reveals that BCH crypto investors are generally optimistic about its long-term prospects. Financial statistics show that 69.18% of BCH crypto holders are in profit, while 29.42% are experiencing losses.
A notable trend is that 98% of BCH crypto holders have kept their investments for over a year, suggesting a preference for long-term investment over short-term speculation.
This trend reflects a strong belief in BCH crypto’s potential and contributes to market stability, as long-term holders tend to smooth out short-term price fluctuations. Also, the data shows that short-term traders exiting their positions are being absorbed by these long-term investors.
Whale activity plays a significant role in BCH crypto’s market performance, with whale holders controlling 40% of the total circulating supply. This sizable stake means that major market moves can be triggered by large trades, providing some level of market influence.
Institutional participation is also notable, with $200.84 million in transactions over $100K recorded in the past week.
This level of high-value activity suggests increasing involvement from institutional investors, which could lead to heightened market volatility and potential price fluctuations in the near future.
An Analyst Says A Double Bottom Could Play Out In Short-Term Bitcoin Cash Price
Market analyst best_analysts predicts that BCH crypto’s next price movement in short-term will largely depend on its ability to maintain the $330 support level.
If BCH price successfully holds this level, it could trigger an upward trend toward the $350 mark, where previous selling pressure has been encountered.
A strong buying volume and a breakthrough above this level could push Bitcoin cash price into the $370-$400 range, signaling a sustained bullish trend.
On the other hand, if BCH price fails to hold the $330 support, it may experience increased selling pressure, potentially driving the price down to the $315–$320 support zone.
Should the bearish trend persist, BCH could fall further to the dynamic support around $300, a key demand area that has provided support in the past.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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