Foreign media reports indicate that Bitcoin Cash (BCH) has continued its recent weakness, with its price breaking below the multi-year support level of $271 amid a general decline in the crypto market, and further falling below the 2025 low of $249.4. The article argues that this trend shows bears remain in control, and the market is reassessing BCH's lower support levels.
The first target is $209.9.
The report noted that the $271 level had previously acted as a support level during downtrends and spurred rebounds; the fact that this level has now been broken indicates that the previous support has weakened. Meanwhile, BCH trading volume rose to approximately $513 million, a significant increase from previous levels, reflecting active selling pressure during the decline.
The article argues that if the price continues to close below the 2025 low on the daily chart, BCH's weak structure will be further confirmed. Based on the range given in the article, the next near-term support level to watch is the 2024 low of $209.9; if selling pressure intensifies, the price may also fall back towards the $139.3 support zone.
Aroon indicator shows bears in control.
From a trend indicator perspective, the article cites the Aroon indicator, stating that the current chart shows a clear bearish alignment. Data shows that Aroon Down is at 100%, while Aroon Up is at 0%, indicating that the recent downward trend is absolutely dominant.
However, the report also noted that while the cumulative/distribution data shows the market is in a continuous distribution phase, with an estimated distribution size of approximately 8.76 million BCH, the decline in this indicator has not been entirely synchronized with the price drop. Based on this, the article argues that if this divergence continues, the probability of a technical rebound for BCH in the current area will increase.
Large holders led the selling
The article also cites data on the "whale-retail exchange differential," stating that recent selling has been primarily driven by large holders, not retail investors. Related activity peaked on June 2nd, and since then, large holders have remained more active than retail investors.
The report suggests that as long as this indicator remains in the "whale-dominated" range, it indicates that the current selling pressure is primarily coming from large investors. If it subsequently shifts to retail investor dominance, market sentiment may weaken further.
Overall, the core judgment of this commentary is that after BCH broke through the key long-term support, its short-term trend remains weak, and $209.9 is the next important level to watch; however, if the selling pressure eases at the margin, a rebound may occur in the current area first.
