Bitcoin (BTC) Bitcoin cash offshoot rallied from 7% to $ 647 in the last 24 hours, revisiting the evaluations seen for the last time in April 2024, according to Data Source Coindesk.
The rally follows a period of extreme dropping market feeling for the token, according to the Santiment Data Monitoring Platform.
“Historically, the prices are evolving in the opposite direction of the expectations of the crowd. So, the implementation of a purchasing strategy when the crowd is afraid and the crowd becomes greedy continues to work extremely well for most altcoins,” said Santiment on X, explaining the increase in BCH.
The token rally aligns with the broader feeling of risk launched by the drop in rates of the Fed on Wednesday and the expectations of the market for the continuous relaxation of liquidity in the coming months. Several tokens, including DOT, SUP, JUP and PROCH, have experienced similar gains in the last 24 hours, while smaller parts like Pingou have led to the two -digit impressive increases.
The feeling of the Haussier market led by the Fed is perhaps the Securities and Exchange Commission (SECOND) Decision to approve generic registration standards for basic products and ETF Crypto without undergoing individual examinations for each product. This decision should accelerate the introduction of new products related to a variety of tokens in the coming months.
BCH’s recent decision is based on the bullish rupture confirmed two months ago. In July, its price jumped above the upper limit of a channel model formed by trend lines connecting the summits from April and December 2024 and the stockings in August 2024 and April 2025.
This escape from a prolonged consolidation period suggests that the sales pressure has been absorbed, opening the way to a later advantage. Immediate resistance to Watch is the highest from 2024 to $ 719, which could be the next key obstacle to exceed BCH.
