Bitcoin Cash Surges Nearly 7% to $647, Highest Since April 2024

Bitcoin Cash (BCH $603.27) has rallied 7% in the past 24 hours, climbing to $647 and revisiting levels last seen in April 2024, according to CoinDesk data.

The upswing appears driven by a shift in market sentiment following the Federal Reserve’s recent rate cut and growing expectations for faster approvals of crypto ETFs in the U.S. The move also aligns with broader risk-on sentiment across the cryptocurrency market, with tokens like DOT, SUI, JUP, and NEAR posting gains, and smaller coins such as PENGU seeing double-digit increases.

Data from analytics platform Santiment indicates that BCH had been under extreme bearish pressure in recent weeks. “Historically, prices move opposite to crowd sentiment. Buying when the crowd is fearful and selling when greedy has worked well for many altcoins,” Santiment noted on X, explaining BCH’s recent surge.

The U.S. SEC’s approval of generic listing standards for commodity and crypto ETFs—allowing products to launch without individual reviews—is likely reinforcing the bullish mood, paving the way for a wider range of token-linked investment products in the months ahead.

Technically, BCH’s rally builds on a breakout confirmed in July, when its price surpassed the upper boundary of a channel pattern formed by highs from April and December 2024 and lows from August 2024 and April 2025. This breakout signals that prior selling pressure has eased, clearing the path for further gains. Immediate resistance lies at the 2024 high of $719, which could be the next key level for BCH to challenge.