Bitcoin Cash Price Rallying with Positive Net BTC ETF Inflows – Market Update

Since the start of the Bitcoin conference, Bitcoin Cash’s price has soared, extending its rally into the weekend and Monday. The surge is fueled by the promising statements made by presidential hopefuls Robert F. Kennedy Jr. and Donald Trump, who pledged their support to the Bitcoin and crypto community. Additionally, Bitstamp’s authorization of Mt. Gox’s BCH and BTC deposits for creditors’ access has sparked renewed interest in the crypto asset. Currently trading at around $444 during Monday’s European session, BCH has gained 13.1% in the last 24 hours. Technical analysis suggests that Bitcoin Cash’s price may continue to rise as it completes a bullish reversal pattern on the daily chart.

• Net BTC ETF Inflows Remain Positive
• Bitcoin Cash Price Rides on Bullish Onchain-Metrics
• BCH Price 21% Extended Rally Inbound as Asset Turns Bullish

Net BTC ETF Inflows Remain Positive

Bitcoin Cash experiences a surge in price following the Bitcoin conference, with a notable increase into the weekend and extending into Monday. The rally is fueled by promises made by presidential hopefuls Robert F. Kennedy Jr. and Donald Trump to the Bitcoin and crypto community, as well as Bitstamp’s approval of BCH and BTC deposits from Mt. Gox for creditors’ access. The European session on Monday sees BCH trading around $444, marking a 13.1% gain in the past 24 hours.

The Bitcoin Cash price analysis indicates that the asset is poised for further gains, as it completes a bullish reversal pattern on the daily chart. Investors are encouraged to keep a close eye on BCH as it continues to attract renewed interest and momentum in the crypto market. With the support of high-profile figures and a favorable technical outlook, Bitcoin Cash is poised for a strong performance in the coming days. Don’t miss out on the opportunity to capitalize on this exciting market movement.The daily net inflows into the ETF have remained positive throughout the month, with only a handful of days recording negative inflows. This positive sentiment has translated into a strong recovery for Bitcoin, which has breached the $68,000 resistance level and is eyeing its previous all-time high.

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Bitcoin Cash Price Rides on Bullish Onchain-Metrics

The surge in Bitcoin ETF inflows is a testament to the growing institutional interest in the digital asset, as investors continue to seek exposure to the highly volatile yet potentially lucrative market. As Bitcoin price recovers above the $68,000 resistance level and edges closer to its previous all-time high, the asset’s bullish momentum remains intact.The surge in Bitcoin Cash’s (BCH) Futures and Perpetuals open interest (OI) by 21% in the last 24 hours, as reported by Coinalyze, underscores a growing interest from investors who are positioning themselves in the asset. Despite this increase, the OI remains below the crucial resistance level of $284 million, hinting at potential upside if breached.

A breakthrough of this resistance could ignite a buying frenzy, propelling BCH’s price towards its previous yearly high of $719. Furthermore, the aggregated funding rate for BCH has turned positive, reaching 0.0036, with predictive analysis suggesting a further rise to 0.004 tomorrow. This positive sentiment reinforces the bullish narrative for BCH, positioning it for potential price appreciation.

BCH Price 21% Extended Rally Inbound as Asset Turns Bullish

Should the OI breach this threshold, BCH could witness a flood of buyers, propelling its price towards the previous yearly high of $719. Moreover, the aggregated funding rate for BCH has flipped positive, climbing to 0.0036, and predictive analysis Predictions a further rise to 0.004 tomorrow, fueling bullish sentiment.BCH price extends its rally by 21%, turning bullish with an upward trend breaking above the 50-day EMA. The recent formation of an Inverted Head and Shoulders pattern suggests a potential upside breakout, signaling the start of a new impulsive wave. The asset is now on its way to test the next major resistance level at $520, but may find support at $381 and $400. Despite the Relative Strength Index indicating overbought conditions, the Chaikin Money Flow remains positive, suggesting sustained buying pressure. Investors should expect BCH to continue its upward trajectory with potential short-term consolidations or pullbacks. Don’t miss out on the opportunity to capitalize on the ongoing bullish momentum of BCH.As BCH surges, it’s now poised to challenge the next critical resistance level, which aligns with previous highs at $520. However, should the rally encounter obstacles, BCH may find solace at the $381 and $400 support zones.

Despite the bullish sentiment, the Relative Strength Index (RSI) stands at 73.33, indicating an overbought condition. This could translate into short-term consolidation or a minor pullback in the NEAR term. Nevertheless, the Chaikin Money Flow (CMF) at 0.19 underscores positive money flow and buying pressure, reinforcing the overall bullish outlook.