This move is not just a short-term bounce. On the monthly BCH/BTC chart, BCH has broken above a key yearly resistance level  a significant technical breakout that strengthens the bullish outlook. Bitcoin Cash has also surpassed Zcash, re-entering the top 12 cryptocurrencies, which has further boosted market confidence.

Key Reasons Behind Bitcoin Cash’s Price Surge

BCH’s recent rally is supported by strong expectations tied to its medium-term roadmap. The development team plans to reduce block times from 10 minutes to 2 minutes by 2026. This improvement would dramatically increase transaction throughput, making Bitcoin Cash far more competitive for everyday payments and microtransaction use cases.

Another major upgrade in the pipeline is OP_EVAL, which aims to bring enhanced smart contract functionality to the BCH network. With this update, Bitcoin Cash could position itself as a low-cost alternative for DeFi applications. Additionally, the team is working on a unified protocol specification designed to make future upgrades smoother and more secure — helping the developer ecosystem grow in a scalable and cohesive way. These factors collectively strengthen long-term investor confidence.

Market Structure Shows Some Cautious Signals

Despite the strong price action, on-chain data reveals mixed signals that warrant caution. Increasing exchange inflows indicate that some investors may be using the rally as an opportunity to take profits. Liquidity remains thin across several networks, and some professional traders appear to be reducing exposure.

This suggests that the current surge is driven more by retail excitement rather than strong institutional accumulation or whale inflows. As a result, short-term volatility risk remains high. However, the sharp V-shaped recovery from $447 indicates that major players may have accumulated at the very bottom in recent weeks.

Key Technical Levels: Next Target at $580

Analysts highlight the $545–$550 range as critical for confirming continuation. If BCH holds above this zone, the next major target becomes $580. A clean breakout above 580 would open the door to increasingly aggressive upside scenarios:

• $621
• $684
• $768
• Above $1,100 (in high-momentum market conditions)

Bitcoin Cash is known for explosive rallies once it breaks major resistance levels, similar to previous bull cycles. This is why many investors believe the current structure resembles earlier large BCH breakouts.

Bitcoin Cash Back on the Radar With Strong Technical Backing

Thanks to large-scale technical improvements in its roadmap, upcoming smart contract upgrades, and significant speed optimizations, Bitcoin Cash has regained strong market attention. The breakout above high-timeframe resistance levels shows rising momentum and a supportive trend structure. Although short-term volatility remains a risk, the long-term outlook and ongoing project developments are viewed as highly positive.

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Key Support: Bullish FVG Area

This support zone acts as an area of previously inefficient price action, where buyers may potentially step in. If this zone is lost to the downside, the next major support lies at $271, which aligns with historical reaction levels.

Breakout Scenario

If BCH receives a bullish reaction from this zone and manages to break the downtrend with strong volume, the first target will be $418 — a significant pivot zone that has acted as support/resistance in the past.

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A sustained move above $418 would open the door toward the next key resistance at $452, which has historically triggered major sell-offs.

BCH is currently trading at a pivotal technical zone. A breakdown could lead to further correction toward $271, while a breakout may initiate a trend reversal toward higher resistance levels. Traders should stay alert and prioritize risk management.

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The post Bitcoin Cash (BCH) Technical Analysis: Downtrend Continues! appeared first on Coin Engineer.

Bitcoin (BTC) Key Intraday Levels

The BTC/USD pair has gained 0.87% in the last 24 hours and is currently trading at $98,688. Bitcoin (BTC) broke through the $98,504 resistance level, making a strong upward move. If the rally continues, the next major resistance level is $101,545. On the downside, the $98,504 level now acts as the first support, while a deeper pullback could see BTC testing the $91,221 support level.

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Ethereum (ETH): The ETH/USDT pair has gained 2.30% in the last 24 hours and is currently trading at $2,847. The first key resistance level stands at $2,877, followed by $2,930 if the uptrend continues. In case of a decline, support can be found at $2,724, with a deeper drop potentially testing $2,366.

FTX Token (FTT): The FTT/USDT pair has surged 8.19% in the last 24 hours and is now trading at $2.1498. The first major resistance level is at $2.2388, and if bullish momentum persists, $2.3313 could be the next target. On the downside, initial support is at $2.0205, while further selling pressure could push the price down to $1.8059.

Internet Computer (ICP): The ICP/USDT pair has lost 0.07% in the last 24 hours, currently trading at $7.132. Resistance levels are identified at $7.314, followed by a higher resistance at $7.783. If the price declines, support is expected at $6.885, with a further drop potentially reaching $6.114.

Bitcoin Cash (BCH): The BCH/USDT pair has lost 0.08% in the last 24 hours and is currently priced at $333.2. The first resistance level is at $338, with $355.1 as the next key target if bullish momentum increases. Support levels are found at $323.4, and a deeper correction could push the price down to $304.2.

Trending Coins in the Market

Over the past 24 hours, the most trending coins in the crypto market include Elon4AfD (ELON4AFD), Ondo (ONDO), and Hyperliquid (HYPE).

The top gainers of the day are The Grays Currency (PTGC), MEOW (MEOW), and BTSE Token (BTSE). On the other hand, the biggest losers are Fartcoin (FARTCOIN), Plume (PLUME), and ai16z (AI16Z).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the most notable liquidation level on the upside is at $99,101, with $26.58 million in liquidations. On the downside, there is also a significant liquidation level at $97,145, totaling $26.58 million in liquidations.

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The post The Latest on Bitcoin and Cryptocurrencies: 6 February appeared first on Coin Engineer.

The Bitwise 10 Crypto Index Fund is heavily weighted towards Bitcoin (75.14%) and Ether (16.42%), alongside other major assets, including Solana (SOL), Ripple (XRP), Avalanche (AVAX), Chainlink (LINK), Cardano (ADA), Bitcoin Cash (BCH), Uniswap (UNI), and Polkadot (DOT). The fund’s total assets under management (AUM) stand at approximately $1.4 billion.

The filing specifies that the fund will exclusively hold portfolio assets and cash, expressly disclaiming ownership of any other digital assets. Coinbase Custody has been named as the partner for the crypto components, while Bank of New York Mellon will act as the custodian for the cash holdings.

This move is part of Bitwise’s active strategy in the evolving crypto space. Recently, the firm rebranded its European XRP ETF to Bitwise Physical XRP ETP and filed for a spot Bitcoin and Ether ETF on November 26. Additionally, on November 20, Bitwise submitted a filing for a spot Solana ETF in Delaware.

The SEC has yet to determine a timeline for approval or rejection of the application. However, the growing number of pro-crypto politicians and policies in the U.S. indicates a potentially more favorable regulatory environment for cryptocurrencies in the near future.

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The post Bitwise Files for 10 Crypto Index Fund ETF with the SEC appeared first on Coin Engineer.

• ALCX/BTC
• BCH/TUSD
• CHZ/BRL
• ETHFI/BNB, 
• OMNI/BRL

Aiming to maximize market efficiency, this choice is motivated by elements including poor liquidity and trading volume.

Impact on Trading

The delisting of some pairs has no effect on the token availability on Binance’s platform. Users can keep trading the base and quote assets using other suitable pairs. Binance will also stop Spot Trading Bot operations concurrently for the impacted pairings. To prevent any losses, users should change or cancel their Spot Trading bots.

Binance’s Commitment to Market Quality

This action is a part of Binance’s continuous attempts to guarantee a safe and quick trading platform. Frequent reviews help to keep a dynamic trading environment fit for user needs and market conditions.

For further details, visit the official Binance announcement page.

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BCH on an Upward Trend

BCH has been steadily climbing in value since the beginning of 2024. According to Coin Engineer data, it has seen a significant 23% increase in the past week and an impressive 43% upswing in the last month. As of this writing, BCH is trading at $673, its highest level in nearly two years.

Market Analysts Cite Multiple Factors

Market analysts attribute BCH’s price spike to a combination of factors:

Recent Halving Event: Bitcoin Cash underwent its second halving event on April 4th, 2024. Halving events reduce the number of new coins miners receive as a reward for validating transactions. This can theoretically lead to price increases due to a decrease in supply.

Overall Market Sentiment: The broader cryptocurrency market has been experiencing bullish sentiment in recent months, which may also be contributing to BCH’s rise.

Understanding Bitcoin Cash Halving

Bitcoin Cash is a fork of the Bitcoin blockchain created in 2017 with the goal of facilitating faster and cheaper transactions. The first BCH halving took place in April 2020. This most recent halving, at block height 840,000, further reduced miner rewards from 6.25 BCH to 3.125 BCH per block.

Network Effects of Halving

While some technical hiccups were reported, such as a temporary slowdown in block confirmation times, data from OKLink shows BCH’s network mining difficulty has reached its highest level since 2019. This indicates increased competition among miners, potentially signaling confidence in the network’s future.

BCH Halving as a Precursor to Bitcoin Halving?

Many experts believe BCH’s strong post-halving performance could be a harbinger of similar positive developments for Bitcoin. Bitcoin’s next halving event is expected to occur on April 20th, 2024, where miner rewards will be cut in half from 6.25 BTC to 3.125 BTC.

Industry Leaders Anticipate Impact

Financial institutions like Grayscale and industry figures like Hut 8 Mining CEO Asher Genoot have publicly stated their belief that the upcoming Bitcoin halving will significantly impact the entire cryptocurrency market.

The post Bitcoin Cash Soars After Halving, Hits Highest Price Since 2021 appeared first on Coin Engineer.