Bitcoin Cash Explodes 100% Weekly as BTC Looks for Direction (Market Watch)


Bitcoin Cash has been one of the best performers in the past week, expanding by a whopping 100%. The cryptocurrency keeps going strong with no real signs of slowing down.

Bitcoin’s Price Looking for Direction

Bitcoin broke above $30K with stellar momentum, which also took it above $31K before the weekend started.

Unfortunately, the bulls were unable to maintain the buying pressure, which allowed sellers to step in and push the price back towards $30K. At the time of this writing, the primary cryptocurrency is trading at around $30,400.

BTCUSDT_2023-06-27_11-44-02
Source: Trading View

As it can be observed in the chart above, the price has entered a state of consolidation following the major surge above $31K and the subsequent correction. It’s also worth noting that these don’t tend to last very long and are usually followed by an explosive move in either direction. It appears BTC is currently looking for that direction.

Bitcoin Cash Continues to Outperform

Bitcoin Cash (BCH) is downright the best performer for the past seven days, and it’s also one of the best performers for the last day. The cryptocurrency is up 107% for the week and 14% for the day, defying the stagnating sentiment of the past couple of days.

cryptocurrency_heatmap_2706231
Source: Quantify Crypto

As seen in the heatmap above, most of the coins are trading either slightly in the red or slightly in the green but with no clear breakout direction.Today’s best performer is FLEX Coin, up 15%. This also got it a spot in the top 100 cryptocurrencies by means of total market cap. Stacks (STX), on the other hand, has declined by some 7%, followed by Kaspa (KAS).

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Cryptocurrency charts by TradingView.



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