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The BCH/BTC pair has risen nearly 20% in four weeks, with a bullish golden crossover indicating potential for a bull market.
Bitcoin’s BTC$105,689.91 offshoot bitcoin cash BCH$504.14 chalked out impressive gains in the past 24 hours, bucking the weakness in BTC and the broader market.
BCH has gained over 5% from $491.25 to $516 in 24 hours, with trading volume tripling at one point as over 120,000 BCH changed hands. Prices hit a high of $528 at one point, the level last seen on Dec. 18, according to CoinDesk data.
While a high-volume rally is said to be sustainable, gains are not backed by improvement in onchain fundamentals. According to CoinDesk’s AI research, fundamentals for the Bitcoin Cash network recently hit six-year lows in daily active addresses. Per on-chain data, the network is experiencing a “critical demand deficit,” suggesting the recent price action is driven more by speculation than actual network usage or adoption.
The Binance-listed bitcoin cash-bitcoin (BCH/BTC) pair, which tracks the ratio between the prices of BCH and BTC, has risen nearly 20% in four weeks, hitting a six-month high of 0.0049, according to data source TradingView.
BCH’s outperformance is gathering momentum as evidenced by the bullish golden crossover of the 50-day simple moving average (SMA) crossing above the 200-day SMA.
The pattern indicates that short-term momentum is now outperforming the broader trend, with the potential to evolve into a significant bull market.
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
https://www.coindesk.com/markets/2025/07/01/bitcoin-cash-surges-5-chalks-out-bullish-golden-cross-against-btc
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