Bitcoin Cash’s Whale Drought: A Tale of $650 Dreams and $200M Realities 😂

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Bitcoin Cash (BCH) $573.8, with a 24h volatility of 5.2%, a market cap of $11.41 B, and a 24h volume of $387.71 M, traded as high as $580 on Monday, Aug. 4, delivering 6% intraday gains amidst a broad altcoin resurgence. Meanwhile, Bitcoin (BTC) $115,294, with a 24h volatility of 0.8%, a market cap of $2.29 T, and a 24h volume of $32.18 B, price hovered under $115,000 with less than 2% upside, despite another major inflow from Metaplanet. Top altcoins like Ethereum (ETH) $3,724, with a 24h volatility of 6.0%, a market cap of $449.49 B, and a 24h volume of $28.60 B; XRP $3.08, with a 24h volatility of 4.3%, a market cap of $182.54 B, and a 24h volume of $6.08 B; and BCH all saw more than 5% rallies at press time.

Amidst this festive atmosphere, BCH on-chain metrics whisper a cautionary tale: the whales, those majestic creatures of the crypto sea, seem to be on vacation. According to IntoTheBlock, BCH large transactions (over $100K), which peaked above $900 million in July, have now plunged below $200 million for the first time in 20 days on Sunday, Aug. 3. 🐳🌊

Bitcoin Cash Large Transactions Count | IntoTheBlock, Aug. 4, 2025

A drop in whale activity during a price rally is often seen as a bull-trap signal. It suggests that high-net-worth investors are not convinced, which reduces the likelihood of a sustained BCH price run. Moreover, without the deep liquidity provided by these whales, the price becomes more volatile and susceptible to sharp corrections if the market mood changes. 📉📉

Yet, the fact that BCH and other top altcoins are outperforming Bitcoin hints at a growing short-term risk appetite. This might keep Bitcoin Cash price hovering above key support levels in the near future. However, unless the whales return soon, BCH may find it difficult to break through the high-volume sell walls around the $600 mark. 🚀💰

BCH Price Forecast: $650 Resistance Zone Faces Bullish but Fragile Momentum

Bitcoin Cash closed Monday’s candle at $560.70, up over 3% with a strong green candle bouncing off the 8-day SMA (blue line). As we can see, BCH price has broken through the $552.4 level (13-day SMA), a key support turned resistance, signaling a potential bullish continuation after a brief two-day dip. 📈,

However, the long upper wick near the $580 level, where price met resistance, suggests a sharp rejection from a major sell wall. The volume bars show increasing buy-side pressure, but not at the peak levels observed during the late July breakout. Without a significant boost in whale transactions, BCH might struggle to gather enough volume to overcome that sell wall. 🛑🚫

The red down arrow also highlights previous rejection zones that have capped upside moves in this range. 🚫🚫

Bitcoin Cash Price Forecast

Notably, Bitcoin Cash now trades above all three Super SMAs (5, 8, 13), forming a short-term bullish crossover pattern. Immediate resistance is between $580 and $590. A daily close above this range could pave the way for a test of the next significant resistance at $650. 🏃‍♂️💨

However, the Bull-Bear Power (BBP) at 28.6 remains in neutral territory, indicating that momentum is building but not yet decisively strong. 🤷‍♂️🤷‍♀️

If BCH price closes decisively above $590 over the next few trading sessions, bulls could aim for $650 as August 2025 unfolds. On the downside, failing to hold $552 could lead to a retest of the $530 support band. 📉📉

Best Wallet Presale Offers New Opportunities for Bullish BCH Traders in Profit

As Bitcoin Cash aims to break past $600 resistance, many altcoin traders are taking profits and investing in early token presales. The Best Wallet ecosystem, having raised over $14.25 million in its ongoing $BEST token presale, offers early investors several advantages, including reduced trading fees, enhanced staking returns, and governance voting power. 🎉🎊

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For those looking to diversify and capitalize on high-upside, low-cap opportunities, the Best Wallet presale is now live. Visit the official Best Wallet website to join before the next pricing tier unlocks. 🚀🔗

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2025-08-05 02:45