Bitcoin Cash

United

Bitcoin

Circuit

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-cash-price-analysis-bch-whales-activity-sparks-after-grayscales-win-against-sec/">Bitcoin Cash Price Analysis: BCH Whales Activity&nbsp;Sparks After Grayscale’s Win Against SEC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a groundbreaking ruling by the United States Court of Appeals for the D.C. Circuit on Tuesday, the path towards the approval of a spot Bitcoin exchange-traded fund (ETF) was cleared in the wake of the SEC vs. Grayscale Investments case. The verdict has had a notable impact on the cryptocurrency market, particularly on Bitcoin Cash (BCH), a leading hard fork of Bitcoin.</p> 
<p>Following the court’s decision, Bitcoin Cash witnessed a remarkable price rally, outpacing other top digital assets. The altcoin’s value surged from its trading price of around $190 to a peak of $225. However, as the fervor settled, its price retraced to approximately $213 on Thursday during the early Asian market hours.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/BitcoinCash?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinCash</a> enjoyed a healthy price rebound, currently back at $214 after being as low as $180 just 2 weeks ago. Short &amp; long term traders are both in profit for the first time since mid-June, and whales will be key to a further surge. <a href="https://t.co/frgwqpoDmz" rel="noopener noreferrer nofollow">https://t.co/frgwqpoDmz</a> <a href="https://t.co/dLA5kEcKBV" rel="noopener noreferrer nofollow">pic.twitter.com/dLA5kEcKBV</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1697070021728690544?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 31, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>As per the on-chain platform, santiment’s analysis revealed that whale traders played a pivotal role in the recent surge and are expected to continue influencing the coin’s upward trajectory. Notably, Bitcoin Cash has exhibited strong growth throughout the year, with a remarkable 105% increase in value year-to-date (YTD).</p> 
<p>Santiment’s analysis further highlighted a significant development: the average trading returns for active 30-day and 365-day wallets have returned to a profitable state, marking the end of a 10-week period of decline.</p> 
<p>From a technical perspective, the bullish momentum for Bitcoin Cash remains robust. Although encountering resistance from the daily 50 Moving Average (MA), the coin’s year-to-date rising trend remains intact and is supported by the 200 daily Moving Average (MA).</p> 
<p>However, experts caution that the positive outlook for BCH could be compromised if the price were to dip below the $161 threshold, a scenario that, if sustained, could lead to further downward movement over the subsequent weeks.</p>

Bitcoin Cash Price Analysis: BCH Whales Activity Sparks After Grayscale’s Win Against SEC

CoinPedia News

Other articles published on Aug 31, 2023

Yearn Community Approved the "Launch v3 Proposal"

Judge Dismisses Uniswap Lawsuit; Describes ETH a Commodity

BingX BTCUSDT scored industry lowest Slippage after Advanced Perpetual Futures Upgrades

City University Ajman and Ajman Municipality Collaborate in Empowering Human Resources through We...

🔥opBNB — New Vote on Roobee DAO!

Swift and Chainlink Collaborate to Foster Interoperability for Tokenized Asset Markets

Join our free newsletter for daily crypto updates!