Bitcoin Cash (#BCH ) reached its highest level in seven months on Tuesday, gaining 15% over the past week to hit $519.10 at the time of writing. The cryptocurrency, often referred to as Bcash, was the best-performing crypto asset among the top 100 assets, greatly exceeding the overall cryptocurrency market cap, which fell by 2.8%.
Bitcoin Cash, which split from the parent currency in 2017, is the most popular and traded among over 100 "forks" of Bitcoin. Practically, it operates almost similarly to Bitcoin ($BTC ), but features a significantly larger block size and a completely independent blockchain.
Today's performance capped a month-long rally; it rose by 29% over the past 30 days, according to Coin,Ge,cko data. It also clearly outperformed the parent currency, #البيتكوين , which fell by 1.2% today and rose by a relatively modest 1.4% over the past 30 days.
One analyst told Dec,rypt that the recent surge seems to be largely driven by whale activity rather than small traders.
According to Ilya Otytchenko, the average transaction size #البيتكوين_كاش in late June was $75,000, a massive jump from just $10,000 in early April. At the same time, transactions over $1,000 $BCH each rose to 20 times at one point in June.
Otytchenko explained: "It is noteworthy that these surges occurred during periods when the total number of transactions remained stable, indicating that large holders, not ordinary users, are the main source of buying pressure."
But this surge in Bitcoin Cash $BCH
The whale-driven surge may not last. Otytchenko believes that the cryptocurrency seems to be entering a consolidation phase, noting that despite recent price increases, overall trading volume has been declining, and whale activity and average transaction value have dropped by nearly 90%.
"A similar pattern occurred in mid-May when reduced whale participation led to price stabilization and increased activity from smaller holders."
Russell Shor, senior market analyst at Tra,du, believes the recent rise in Bitcoin Cash can be attributed to "risk sentiment" following reciprocal tariff relief from the Trump administration, along with "positive technical indicators, institutional buying, and optimism about potential Federal interest rate cuts."
He explained: "With the strong momentum pushing it above $500, #BCH may soon test the $600 level if this trend continues." "However, it may face bumps ahead from market volatility and regulatory uncertainties."
He added: "Watch the $460-$470 range to see if this surge has staying power."