- Bitcoin Cash price gave a bullish breakout from a 100-day resistance trendline, offering buyers with suitable support for the next recovery leap.
- Futures-linked instruments tied to BCH showed minimal capital inflows during the rally phase.
- Derivative market data shows that today’s price jump triggered a $1.44 million in short liquidation, further bolstering the buy orders in BCH.
Bitcoin Cash (BCH), the peer-to-peer electronic cash system, is up 4.13% ahead of Wednesday’s U.S. market hours to trade at $467. The buying pressure aligns with broader market relief rally as president Donald Trump extended the U.S.-Iran ceasefire. However, the Bitcoin Cash price gained additional momentum as buyers breached a key 100-day resistance trendline to bolster a further recovery. Will BCH reclaim $500 soon?
Crypto Market Hits $2.62T as Ceasefire Eases Global Tensions
On April 22nd, 2026, the crypto market experienced a notable surge in buying pressure which pushed its market cap to $2.62 trillion, following an intraday spike of 2.1%. A primary catalyst to this surge was easing geopolitical tension, as U.S. president Donald Trump announced an extended the U.S.-Iran ceasefire.
In his recent truthsocial post, the temporary cessation of hostilities between the United States and Iran has been pushed forward indefinitely after high-level intervention from Islamabad. Emphasizing the fact that the existing regime in Tehran is highly divided, the White House assured that military attacks will be held back until Iranian leaders will be able to offer a unified suggestion.
This diplomatic change comes after the highest leadership in Pakistan made appeals to buy more time to negotiate. Even though the direct fight has stopped, the naval blockade will continue since the American troops are on standby and can operate any time.
However, Bitcoin Cash BCH-7.49% derivatives futures contracts have not seen any significant capital inflows. BCH open interest (OI) remains at the level of about $600 million as per Coinglass data, showing that leveraged traders remain reluctant to participate.
This slow pattern signifies a dampened speculative demand and a reserved attitude of the market, indicating that traders are still not convinced with the sustainability of the present price movement.
Consequently, the lack of robust OI growth may constrain the positive momentum in BCH-7.49% unless it is complemented by new positioning by institutional or high-conviction actors.
Bitcoin Cash Price Gives A Breakout From 100-day Correction
With today’s price jump, the Bitcoin Cash price gave a decisive breakout from a major resistance trendline in the daily chart. Since mid-January 2026, this trendline acted as a dynamic resistance against the BCH buyers, maintaining a sell-the-bounce sentiment in the market.
Thus, the recent breakout signals a change in market dynamic, offering buyers a suitable launchpad to drive price recovery. The momentum indicator ADX (Average Directional Index) at 21% and declining suggest that the prevailing bearish momentum is weakening.
With sustained buying, the post-breakout rally could push the Bitcoin Cash price another 22.5% to hit $570, followed by a leap to $640.
On the contrary, if the Bitcoin Cash price faces renewed selling pressure at immediate resistance of $484, the short-term trajectory could remain sideways.
