Bitcoin Cash has seen a notable surge in the past 24 hours, gaining 8% to $554.
The altcoin sees gains as Bitcoin price dumps amid massive sell-off pressure.
With trading volume up 44% and rising open interest also surging, BCH could defy the benchmark asset’s dip further and eye highs last seen in December 2024.
The Bitcoin Cash (BCH) price currently stands at approximately $551.
While it’s off its intraday highs of $554, it remains above the $550 mark, up as one of the top gainers in the past 24 hours.
According to CoinMarketCap, this comes as Bitcoin’s latest correction has many altcoins also showing weakness.
Bitcoin Cash defies BTC dump with 7% gain
BTC dropped to below $115k after Galaxy Digital, a prominent crypto investment firm, offloaded 30,000 BTC in under 24 hours.
Liquidations spiked amid the Bitcoin dump, but Bitcoin Cash looked to buck the trend.
Its intraday gains of over 8% see it rank among the top performers in the 100 largest cryptocurrencies by market cap.
Notably, gains keep BCH in an uptrend over the longer time frames. The altcoin’s price is on an upward trajectory since touching lows of $268 in April 2025.
Also, the price gain amid a 44% increase in trading volume to over $870 million suggests potential buying pressure.
Crypto analyst CW points to increased whale interest, particularly in China.
There is a strong buying trend for $BCH on Binance and OKX, where Chinese whales are active. pic.twitter.com/49b4oiZHSd
— CW (@CW8900) July 25, 2025
Is BCH poised for a rally to $1,000?
BCH price last traded at $1,000 in May 2021, at the time when bears pushed it lower from above $1,427.
In the past year, an attempt by buyers to reclaim the level fizzled out at around $624 in December 2024.
While the cryptocurrency has struggled for upside momentum, analysts are increasingly optimistic about Bitcoin Cash’s potential to rally toward $1,000.
Other than the overall long-term bullish sentiment around crypto, the short-term picture highlights robust market metrics and technical outlook.
For instance, open interest in BCH derivatives has jumped 24% to $533 million, with volume 28% up to over $1.3 billion.
A surge in speculative activity signals bullish confidence in the token’s price.
The technical picture further bolsters this bullish outlook.
The Relative Strength Index (RSI) currently reads 63.
Meanwhile, the Moving Average Convergence Divergence (MACD), is also flashing a bullish crossover to hint at potential short-term upward pressure.
If bulls manage a breakout to the supply wall at $540-$565, they could retest the $620-$650 area.
Above this, resistance above $700 could allow bulls to target $1,000. Conversely, support lies around $480 and then $380.
