Bitcoin Cash BCH/USD, a fork of Bitcoin designed for faster and cheaper transactions, is trading higher by 6.15% to $315.12 during Friday’s session. The altcoin is making a strong comeback Friday, bouncing back sharply from this week’s cryptocurrency market downturn.
What To Know: Bitcoin’s sharp decline this week, fueled by record outflows from U.S. spot Bitcoin ETFs, has triggered broader market pessimism, leading to an 8.7% drop in overall crypto market capitalization.
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This negative sentiment, driven by renewed economic uncertainty and aggressive tariff policies from the Trump administration, has pushed investors toward risk-off strategies, further weakening demand for altcoins like Bitcoin Cash.
What Else: Historically, BCH has closely followed Bitcoin’s price movements, and with BTC struggling to find a bottom, Bitcoin Cash may see continued declines. The Crypto Fear & Greed Index hitting “extreme fear” levels reflects the market’s uncertainty, making a recovery uncertain in the near term.
Until Bitcoin stabilizes and outflows subside, BCH could remain under selling pressure amid the broader market correction, despite Friday’s move higher.
Read Also: Bitcoin Will Still Hit $500,000 Before Trump Leaves Office, Standard Chartered Analyst Maintains
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