Bitcoin Cash Drops by 4% Amidst Repeated Rejection at $604

Bitcoin Cash Drops by 4% Amidst Repeated Rejection at $604

Bitcoin Cash (BCH) fell by about 4% in 24 hours to $572.90 on Tuesday, underperforming the broader crypto market (-1.5%) due to technical resistance, risk-off sentiment, and Bitcoin’s pullback.

As the spin-off of Bitcoin, the peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and a larger block size faces sell pressure ahead of the Fed decision on interest rates.

Trading signals highlighted BCH’s repeated rejections near the $604–$620 resistance zone – a level that’s capped gains for over a year.

Its price declined as trading volume sank by 26.54% in 24 hours to $286.74 million.  With a limited total supply of 21 million coins, Bitcoin Cash is provably scarce and, like physical cash, can be easily spent.

Bitcoin cash has seen significant price surge but faces technical headwinds. BCH has surged 40% in 2025, making it the best-performing Layer-1 Blockchain this year according to CoinMarketCap.

This contrasts with double-digit losses for Ethereum, Solana, and Cardano. Analysts attribute BCH’s resilience to its fully diluted supply and renewed focus as “digital cash.”

The outperformance highlights BCH’s unique positioning amid Bitcoin-focused market cycles. However, its lack of smart contract innovation compared to rivals raises questions about sustainability.

BCH faced rejection at $604.19 – a zone where traders placed 2,450 sell orders totalling about $14.7 million. The asset now consolidates between $571.72 support and this resistance, with technicals suggesting a decisive break either way could trigger 10-15% moves

Crypto analysts anticipate that a dovish Fed could amplify BCH’s momentum, but failure to hold $593 support post-decision might trigger profit-taking. NGX Reclassifies Six Securities to Medium-Priced Category: What It Means for the Market