Bitcoin Cash (BCH) is trading around $578 today after a new rally that took its market cap above $11.5 billion, according to data from CoinMarketCap, with traders starting to target the $550 area as a base value.
According to CoinMarketCap, BCH is up nearly 3% in the past 24 hours, with an approximate volume of $360 million and a circulating supply of approximately 19.96 million coins. Despite this latest rally, the asset is still nearly 87% below its 2017 high of around $4,355, and the current move remains in the realm of measured recovery rather than a euphoric breakout, leaving participants debating how sustainable this phase actually is.
The market is now focused on whether BCH can consolidate above the recent intraday band of $576 to $605 without retreating towards the $550 zone, which traders are treating as the first test of new support. Bitcoin Cash is positioned as a peer-to-peer electronic cash system backed by a limited supply of 21 million, and future price and volume updates will indicate whether this momentum phase has the necessary depth to continue.
Source: CoinMarketCap.
Disclaimer: Crypto Economy Flash News is created from official and public sources verified by our editorial team. Its purpose is to quickly report relevant facts about the cryptocurrency and blockchain ecosystem.
This information does not constitute financial advice or investment recommendations. We always recommend checking the official channels of each project before making any related decisions.
