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Bitcoin Cash Price Analysis: Double Bottom Pattern Approaching Confirmation, Whale Buy Orders Drive BCH Price Breakout Soon?
Driven by continuous inflows of whale funds, Bitcoin Cash (BCH) has recently performed strongly. According to crypto.news data, as of press time, BCH has risen approximately 7.1% in the past 24 hours, with a high of $585 during the session, making it one of the top gainers among the top 100 cryptocurrencies by market capitalization for the day. At the current price, BCH has rebounded about 28% from its November lows and has increased more than 118% from its lowest point of the year.
It is worth noting that this round of gains occurred against a relatively restrained macroeconomic environment. The Bank of Japan announced a 0.25 percentage point increase in its benchmark interest rate to 0.75%, the highest in nearly 30 years, while the Federal Reserve had just cut rates earlier. Despite differing expectations for global liquidity, the overall volatility in the crypto market has been limited, but BCH has led the rally, demonstrating characteristics of an independent market trend.
BCH1.18%