Bitcoin Cash (BCH) price rose 6% before retracing 4% to hit the $318 mark on Friday.
Bitcoin Cash price rose 6% before facing a 4% rejection from the $330 mark on Friday. BCH average transaction size has plunged by 67% since Feb. 3, while Litecoin ’s rose 35% in the same period. The divergence between LTC and BCH whale demand trends suggests ETF buzz has shifted investor focus considerably this month. Bitcoin Cash price rose 6% before retracing 4% to hit the $318 mark on Friday.
daily price chart shows another major technical breakdown could be underway as the 50-day SMA approaches the 200-day SMA from above. If this cross materializes, it would confirm a prolonged bearish structure, historically associated with extended downturns. On the momentum front, the Bull-Bear Power indicator remains in deep negative territory at -16.4, suggesting that bearish momentum still outweighs buying pressure.
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