Bitcoin Cash (BCH) has surged past $526, experiencing a strong uptrend throughout the month driven by expectations of U.S. Federal Reserve interest rate cuts.
The token has gained 75% in the last quarter, boasting a $10.3 billion market capitalization with trading activity up over 70% and a price near $521 currently.
Analysts attribute the rally to a technical breakout as BCH surpassed a falling trendline, triggering bullish sentiment among traders.
Despite the positive outlook, the crypto market's sensitivity to macroeconomic shifts and changes in sentiment could potentially derail the current uptrend.