Bitcoin 
$87,270.31Popular altcoin known as a fork of BitcoinCash 
$543.45 (BCH) attracted attention with its sharp rise in the last 24 hours. BCH became one of the best-performing assets of the day, with the altcoin’s price rising nearly 12 percent to trade around $596. While Bitcoin and many major altcoins were in the negative in the same time period BCHThe divergence in ‘s brought to the fore the question of “what triggered the rally” in the market.
Buyer Appetite and Derivatives Market Fueled the Rally
The first thing that stood out in the rise in Bitcoin Cash was the strengthening buying interest of individual investors. The movement gained momentum with the atmosphere supporting risk appetite after the US inflation data showed CPI at 2.7 percent. In parallel with this Binance Data shows that top traders are increasing their long positions in Bitcoin Cash. Both the number of people who opened transactions with upward expectations and position sizes increased.
The second driving force became evident on the futures side. The open position value in BCH futures reached the highest level in the last six months, indicating new risk capital entry into the market. According to CoinGlass data, open positions increased by 18.69 percent in the last 24 hours, reaching $761.48 million. Moreover funding rateThe fact that the value turned positive showed that bullish investors were willing to pay a premium to carry their positions.
$615 Threshold Will Be Decisive for Ascension
In the short-term technical outlook, BCH remains above major moving averages on the 4-hour chart, supporting optimism. Reacting to the price around $530 double bottom formation Its formation is followed as a classic signal of a trend change. The fact that BCH maintained its momentum despite the Bank of Japan increasing its policy rate to 0.75 percent strengthened the comments that the rally was fed by its own dynamics.
The market’s eyes are now on the $600-625 band. In particular, the $615 region stands out as a distinct selling wall. If there is a permanent break above $615, the next target followed by analysts will be the $640 level. On the other hand, failure to exceed $615 may increase the possibility of horizontal pricing and respite in the short term.
