BCH Dey Eye $650 as Whale Transactions Drop Below $200M
Bitcoin Cash (BCH) spike 6% reach $580 for di middle of big altcoin run up but e get strong resistance for $580–590. Chain data from IntoTheBlock show say whale transactions for BCH drop from $900 million for July go down to less than $200 million, meaning say institutional belief low and liquidity get wahala. If e close daily pass $590 e fit begin to go $650 target, but if e no fit hold $552 fit make e fall go $530. Traders suppose dey watch Bitcoin Cash whale activity well well, because small big volume support fit block the price rise and make market dey volatile.
Neutral
As Bitcoin Cash dey show bullish momentum wit 6% rally amid wider altcoin gains, the steep drop for whale transactions under $200 million fit mean say institutional support no too strong and liquidity risk dey. Historical pattern show say when whale activity low during rallies, e usually dey come before sharp retracements, wey mean traders suppose dey cautious. If BCH fit close above $590, bulls fit push price go $650; but if dem no fit attract big volume buys, e fit trigger pullbacks to $552 or $530. So, near-term direction balanced between wetin fit go up and wetin fit come down. Traders suppose dey watch whale transaction volume make sure say market get conviction before dem commit.