Bitcoin Cash Eyes $635 Breakout as Grayscale ETF Filing Ignites Bullish Momentum
[URGENT: September 17, 2025] – Bitcoin Cash (BCH) is experiencing a significant upswing, currently trading just above $600, and analysts are closely watching for a potential breakout that could propel the cryptocurrency to new heights. The surge is largely attributed to Grayscale Investments’ recent application for a Bitcoin Cash ETF with the SEC, sparking renewed investor interest and optimism. This is a breaking news development with significant implications for the future of BCH and the broader cryptocurrency market. For those following Google News and seeking timely SEO-optimized information, this is a crucial update.
Grayscale ETF Filing: A Game Changer for Bitcoin Cash?
On September 10th, Grayscale Investments filed for an ETF encompassing Bitcoin Cash (BCH), along with Hedera (HBAR) and Litecoin (LTC). The Bank of New York Mellon will handle administration, while Coinbase will provide custody and prime brokerage services. This move mirrors the successful launches of Bitcoin and Ethereum ETFs, which dramatically increased accessibility and institutional investment in those cryptocurrencies. The potential approval of a BCH ETF could unlock a new wave of capital, bringing Bitcoin Cash to a wider audience and potentially driving up demand. Even the possibility of approval is acting as a bullish catalyst.
Technical Analysis: $635 – The Key Resistance Level
Currently, BCH is trading at $601.86, a 0.49% increase from the previous day and a remarkable 80% gain over the past six months. Market analysts pinpoint $635 as the critical resistance level. A successful breach of this threshold is widely expected to trigger the next significant price increase. Retail investors are keenly observing whether BCH can sustain its upward momentum and overcome this hurdle. According to trader @cw8900, “Will start the $BCH rally after the breakthrough through $635.”
The technical charts support this outlook. BCH has established strong support between $590 and $600, with further support levels at $577 and $535. The coin is trading well above its 30, 50, and 200-day moving averages, with the rising 200-day baseline reinforcing the bullish structure at $577. This indicates strong underlying buying pressure.
Elliott Wave Analysis: Approaching a Demand Zone
Adding to the bullish narrative, analysis from Elliott Waves Academy suggests Bitcoin Cash is approaching a key demand zone. Their projections indicate that after two correction waves, BCH is aligning with the 50-61.8% Fibonacci retracement level of the recent upward movement. If this analysis holds true, the next upward wave (wave (3)/(c)) could initiate, resuming the broader uptrend. [Placeholder for Elliott Wave Chart Image]
Understanding Bitcoin Cash: A Brief History & Future Outlook
Bitcoin Cash emerged from a hard fork of Bitcoin in 2017, aiming to address scalability issues by increasing the block size. While it initially gained traction, it has often been overshadowed by Bitcoin. However, recent developments, particularly the ETF filing, suggest a renewed focus on BCH’s potential as a viable payment-oriented cryptocurrency. The increasing adoption of layer-2 scaling solutions on the Bitcoin Cash network, like AnyBlock, are also contributing to its growing utility and appeal.
The current market conditions, coupled with the potential for increased institutional investment through an ETF, position Bitcoin Cash for continued growth. However, as with all cryptocurrencies, volatility remains a key factor. Investors should conduct thorough research and understand the risks involved before making any investment decisions.
The unfolding story of Bitcoin Cash is a compelling example of the dynamic nature of the cryptocurrency market. Keep checking back with Archyde for the latest updates and in-depth analysis as this story develops. We’re committed to providing timely, accurate, and insightful coverage of the digital asset space, helping you stay ahead of the curve in this rapidly evolving world.
