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Bitcoin
According to Coindesk Research, a technical analysis of Coindesk Research was traded for $ 482.54, by 0.23% in the last 24 hours, after a wider retreat from its recent than the maximum. As for a wider crypto sector as measuring the Coindesk20 index (CD20)This is 0.27% in the same period.
1 July reached BCH $ 526.5 – the highest price in eight months – because market enthusiasm, whale accumulation and speculative tide have helped to drive token over the last three months by more than 75% higher.
The increase, briefly BCH over $ 528, coincided with a significant increase in the volume of daily trading, which tripled to more than 120,000 tokens that have been replaced within a 24 -hour range. A large part of the purchase interest was attributed to the alternation of capital into cryptocurrencies in the middle of the capitalization, as investors were looking for profits outside large companies during the period of wider strength of the market.
However, the foundations of the on-line remain bland. The daily active addresses have fallen to a six -year minimum, indicating that the assembly is powered by more speculation than increased network usefulness. Despite this disconnection, technical indicators point to additional potential. At the end of June, the 50-day gliding average exceeded the 1-day Ma-historically Bull Signal on the BCH-KDE hourly graph.
Open interest in BCH derivatives increased by 27.4% to $ 578 million last week. Analysts carefully monitor the range of $ 478 to $ 508 and consider it a key support zone that could stabilize the current pullback.
On July 4, the Intotheblock analytical company reported $ 122.45% increase in large whale transactions, including more than $ 100,000 in BCH, which is $ 482 million in the total amount of $ 957,440 chips. This sharp increase in high -value transfers reflected the earlier tips of the activity that were seen in February, May and at the end of June, all of which were preceded by the main price movements.
The independent development of 5th July increased another intrigue, with a 10,000 BCH transaction worth approximately $ 5 million just before the historical movement of 80,000 BTC-VC-V value of more than $ 8.5 billion. Experts suggest that BCH transfer could serve as a key test to access to the wallet before performing a massive bitcoin transaction that has been the largest of its kind in more than ten years.
Meanwhile published Bitcoin Cash Foundation Update 1 July Emphasizing the release of Knuth v0.68.0, which unifies the code base of the node and sets the foundations for future UTXO efficiency upgrades. While this week no main subtitles of adoption have appeared, smaller community projects continue to explore microymates and NFT based on BCH. Roger Ver, a long -time supporter of Bitcoin cash, remains publicly active in promoting BCH as a scalable alternative to Bitcoin, although his recent defense was not accompanied by any new placement on the market of institutional products.
Emphasizing technical analysis
- BCH traded within $ 7.52 (1.57%) From 4 July 15:00 to 5 July 14:00 ranges between 481.83 and $ 489.35.
- Strong support was observed at $ 481.83 with an increased volume within 04:00 hours 5th July.
- Resistance was formed at $ 489.43, where repeated profits from pressure sales.
- From 13:06 to 14:05 UTC 5th July got BCH $ 1.20 (0.25%)It breaks briefly above $ 483.25 to a growing volume.
- Supports in the last minutes of the session were created between $ 483.35 and $ 483.45, with the price reached a peak of $ 483.81 during a candle 14:03.
ISCLAIMER: Parts of this article were created with the help of AI tools and reviewed our editorial team to ensure accuracy and observance our standards. See more information Complete policy of AI of Coindeska.
