Bitcoin Cash

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Following a downturn that compounded investor angst, the broader crypto market has embarked on a recovery campaign, with bitcoin cash (<a href="https://crypto.news/price/bitcoin-cash/">BCH</a>) leading the charge. This recovery is geared towards reclaiming the losses of the past week. 
Notably, the global crypto market capitalization has surged by a massive 5.76% in the past 24 hours. Consequently, the market valuation currently stands at $1.13 trillion, its highest value in two weeks. The impressive gains from bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) and most altcoins have catalyzed this rapid surge. 
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Interestingly, almost all the top 100 crypto assets are seeing observable gains over the last 24 hours. The only top 100 assets exempt from this market-wide rally are quant (QNT), pax gold (PAXG) and tether gold (XAUT).&nbsp; 
Meanwhile, among the top 20 assets by market cap, litecoin (<a href="https://crypto.news/price/litecoin/">LTC</a>) is experiencing the largest percentage gain, with a 9% increase in the past 24 hours. Bitcoin is a close second, surging by 7.7% within the same timeframe.&nbsp; 
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While assets such as wrapped bitcoin (WBTC), cardano (<a href="https://crypto.news/price/cardano/">ADA</a>), avalanche (AVAX) and polygon (MATIC) are seeing gains above 6%, XRP seems to be lagging, with a meager 1.7% increase. The asset has failed to hold above the psychological level at $0.50. 
Conversely, bitcoin and ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) have towered over the much-coveted psychological levels at $28,000 and $1,800. However, ethereum’s position remains delicate. Trading at $1,809, ETH could drop below the $1,800 mark in the face of a slight correction. 
<h2 class="wp-block-heading" id="bch-leads-the-charge">BCH leads the charge</h2> 
The latest market-wide recovery has been primarily championed by bitcoin cash, which witnesses the most significant increase among the top 100 assets. BCH recently rallied to a two-month high of $134.40. The last time the asset saw this price was on April 18. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="1131" height="607" src="https://crypto.news/app/uploads/2023/06/BCH-price-June-21.png" alt="Bitcoin Cash leads charge as global crypto markets recover - 1" class="wp-image-14171501">
 <figcaption class="wp-element-caption">
 BCH price – June 21 | Source: Trading View
 </figcaption>
</figure> 
Despite a slight decline over the past hour, BCH retains a 24.38% gain in the last 24 hours, currently changing hands at $132.45. Conflux (CFX), flow (FLOW), <a href="https://crypto.news/stacks-emerges-top-gainer-with-10-surge-despite-market-volatility/">stacks</a> (STX) and optimism (OP) have also made their way into the top 5 gainers.&nbsp; 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="964" height="923" src="https://crypto.news/app/uploads/2023/06/Screenshot_20230621-092349-6352.png" alt="Bitcoin Cash leads charge as global crypto markets recover - 2" class="wp-image-14171500">
 <figcaption class="wp-element-caption">
 Top 5 gainers on June 21 | Source: CoinMarketCap
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="blackrock-etf-reignites-confidence">BlackRock ETF reignites confidence&nbsp;</h2> 
The recent market rally comes from renewed confidence in bitcoin and the crypto industry following reports of BlackRock’s potential bitcoin ETF filing. The $9 trillion asset manager was reportedly on the verge of filing for its spot-based ETF with the SEC in partnership with Coinbase Custody. 
Despite the SEC’s history of BTC spot-based ETF rejections, the crypto community believes the BlackRock vehicle will receive favorable treatment. BlackRock’s sustained interest in BTC has triggered a renewal of confidence in the long-term prospects of BTC and crypto assets. 
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Bitcoin Cash leads charge as global crypto markets recover

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