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- Bitcoin Cash holds above $550 as network activity and profitable supply rise through October.
- Whale interest in BCH futures is growing, hinting at a possible push toward the $600 price level.
Bitcoin Cash (BCH) is gaining attention again as the coin’s price stays above $550 after a strong move on October 27. Traders are watching to see if the price can push higher before the month ends. Many believe that the strong mood in the crypto market this month, called Uptober, is helping Bitcoin Cash stay firm. The latest price action has made many holders confident, and they are now looking toward the next target near $600.
Bitcoin Cash Network and Profit Strength
Data from market trackers show that network activity on Bitcoin Cash continues to grow. Active addresses kept rising through the month, reaching about 7.5 million on October 26. More people using the network suggests interest.
When users are active, the market sees more buying, which can help the price stay healthy.
A sign of strength is the increase in supply that is now profitable. It rose from 14.67 million BCH mid last week to 17.7 million BCH tokens. This means more holders are sitting on gains at the price level. When many wallets are in profit, there is less pressure to sell at lower levels, which can help support the market during pullbacks.
It is important to add that traders say that if this network growth continues, Bitcoin Cash could remain strong through this week. Market participants believe that this price outlook is worth considering, as it is close to the recent high it had in the past. As noted in our previous coverage, Bitcoin Cash is testing the $600 resistance for the first time in 2025.
As of writing, the coin was changing hands for $559.28, up 7.12% in 24 hours.
Whales and Futures Activity Add to the Push
It is worth noting that large traders known as whales are also showing more interest in Bitcoin Cash futures. As highlighted in our previous news brief, whale investors added over 66,000 Bitcoin Cash in one day.
This recent market data points to bigger order sizes, which means these traders expect a move. Open interest in BCH futures has climbed in the last day, rising by more than 13% to around $382.96 million. Higher open interest signals that more traders are ready to take positions.
There is also a negative funding rate in the futures market. This means traders who expect the price to fall are paying extra to hold their position. When this happens, buyers get a push to stay active, which can help the price keep rising.
Meanwhile, on the charts, Bitcoin Cash is trading between two price levels near $573 and $542. A move above the higher level could set up a run toward $600. If the price drops, traders are watching support near $542 and the 200-day Exponential Moving Average at $531.
