Bitcoin Cash Soars Above $570 as Big Investors Make a Bold Comeback

Ethereum sell-offs are fuelling a quiet rotation into Bitcoin Cash, with whales snapping up tens of thousands of coins in a single day — the most since early July.

Bitcoin Cash (BCH) surged past the $570 mark on Wednesday, one of the few major cryptocurrencies bucking the day’s choppy mood. While most top altcoins faltered or treaded water, BCH stood out with steady gains and signs of serious backing from large-scale investors.

It’s not just retail enthusiasm pushing it up either. On-chain data shows a sharp uptick in whale activity — and it’s got analysts watching closely.

A 66,000 BCH Surprise Move Sends a Strong Signal

On Tuesday, wallets holding at least 1% of Bitcoin Cash’s circulating supply saw a net inflow of 66,040 BCH. That’s the biggest single-day inflow since July 4, when whales scooped up over 100,000 coins in 24 hours.

IntoTheBlock’s Large Holder Netflow metric confirmed the spike, suggesting major holders are building positions again.

Just one sentence to let that sink in.

It’s a clear contrast from earlier this month, when whale wallets had been mostly neutral — if not slightly bearish.

The timing is crucial. BCH had been consolidating around the $500–$530 range for weeks. Then, bang — a sudden breakout, fuelled by deep-pocketed buyers.

• On July 30, BCH opened at $544.
• It briefly tested $587 before settling around $568 by Wednesday.
• If momentum holds, next resistance sits near $615.

This kind of inflow doesn’t just happen on a whim. It usually signals a belief in mid-term price appreciation. Or, at the very least, a hedge against Ethereum’s short-term volatility.

Ethereum’s Loss, Bitcoin Cash’s Gain?

Let’s talk context. Ethereum’s recent price action has frustrated traders. After weeks of flat performance and mild upticks, profit-taking has kicked in. That capital is now looking for somewhere to go.

Mid-cap altcoins — particularly ones with strong historical liquidity — are suddenly getting attention. Bitcoin Cash, with its 24/7 trading volume and predictable market structure, is benefitting.

Two days ago, Ethereum dropped about 3.2% during the US trading session. Simultaneously, BCH rose nearly 4%. That’s no coincidence.

Investors aren’t necessarily ditching ETH forever. But some are clearly rotating into BCH for faster upside.

A bit of price history puts it in perspective:

That trend may not last — but it’s strong enough to watch.

Chart-Watching? Keep an Eye on the Bollinger Band

Now let’s talk technicals. BCH is currently testing the upper edge of its Bollinger Band — that’s around the $587 level. This doesn’t mean a pullback is guaranteed, but historically it’s been a zone where momentum slows down.

If BCH closes above $590 on strong volume, $615 becomes a likely short-term target.

One-sentence reality check: if volume fades, we could revisit $540 just as fast.

Still, RSI remains in neutral territory, and MACD shows a bullish crossover as of Tuesday evening. That gives traders a bit more confidence than they’ve had in recent weeks.

In plain English? It’s not overbought yet.

Whale Wallets Aren’t Just Trading — They’re Holding

One fascinating shift isn’t just the amount of BCH being bought — it’s what happens next. A larger-than-usual percentage of Tuesday’s whale inflows moved into long-term holding wallets, according to Glassnode data.

This suggests something bigger is brewing.

Unlike previous spikes, where whales quickly moved coins back onto exchanges, this time they’re keeping them in cold storage. That’s not typical trading behaviour. It’s positioning.

Also, note this: some of these wallets have been dormant since May. They’re now waking up and re-accumulating.

That’s not small-time speculation — that’s calculated exposure.

What Could Go Wrong?

Of course, not everything is lined up perfectly. A broader crypto market pullback could drag BCH down, no matter how bullish its setup looks today.

Bitcoin itself is still hovering just above $61,000, facing resistance near $62,500. If it falters, expect BCH to dip with it.

Also, there’s the regulatory wild card. The SEC remains unusually quiet on altcoin classifications this quarter, and Bitcoin Cash isn’t immune to scrutiny.

But for now, the momentum is on BCH’s side. With whale wallets buying in bulk and technical levels looking supportive, the current uptrend feels more than just a fluke.