Bitcoin Cash (BCH) has surged over the past four days, reaching $223.54 — its highest level since August 30th. This rebound aligns with broader cryptocurrency market gains, including Ethereum, ThorChain, Axie Infinity, and VeChain.
Why Is Bitcoin Cash Rising?
1. Spot Bitcoin ETF Momentum
The primary driver behind BCH’s rally is Franklin Templeton’s application for a spot Bitcoin ETF. As a financial giant managing over $1.5 trillion, its entry signals growing institutional confidence. This follows similar moves by Fidelity, BlackRock, and Ark Invest, increasing pressure on the SEC to approve these funds.
2. Regulatory Shifts
The SEC’s recent loss in the Grayscale lawsuit (which challenged GBTC’s conversion to a spot ETF) has weakened its opposition. Enhanced surveillance measures by applicants further bolster approval chances, fueling optimism for Bitcoin and its forks like BCH.
3. Market Sentiment
Analysts speculate Bitcoin could rally significantly if ETFs gain approval, indirectly benefiting Bitcoin Cash. However, this recovery isn’t without risks.
Key Risks to Monitor
🔴 Inflation and Fed Policy
- U.S. inflation is rebounding, exacerbated by rising oil prices (WTI at $90/barrel).
- The UAW strike may inflate used car prices, prompting further Fed rate hikes.
- Higher rates could push Money Market Funds (MMFs) yields above 6%, drawing investors away from crypto.
🔴 Market Volatility
While BCH shows technical strength, macroeconomic headwinds threaten its momentum.
Bitcoin Cash Price Forecast
📈 Technical Indicators
- 200-day EMA: BCH rebounded after retesting this critical support.
- 50-day EMA: Price now trades above this level, breaking out of a descending channel.
- RSI: Surpassed 50, signaling bullish momentum.
🎯 Targets
- Upside: $264.46 (July 30th high) if bullish momentum holds.
- Downside: A drop back into the descending channel if macro conditions worsen.
FAQs
❓ What’s driving Bitcoin Cash’s price up?
Franklin Templeton’s Bitcoin ETF application and broader institutional interest are key catalysts.
❓ Could the Fed’s policies impact BCH?
Yes. Rate hikes may make MMFs more attractive, reducing crypto demand.
❓ What’s the next resistance level for BCH?
Watch the $264.46 level, last tested on July 30th.
👉 Explore Bitcoin Cash’s latest trends
👉 Why institutional interest matters for crypto
Note: This analysis excludes promotional links and ad-related content per guidelines.
### **SEO Keywords**