BCH - HTF Accumulation 📈

1. Bitcoin (BTC): Accelerating Surrender and End of a Dead-End Cycle
Bitcoin's price has declined since the beginning of the year in a manner that goes beyond a simple market correction and has caused a seismic shift in the mining system. The gradual decrease in hash rate, previously observed at the end, led to "miner surrender," and the recent price decline has accelerated this process.
Mining operators had no choice but to liquidate their holdings in the market to survive, creating a vicious cycle that pushed prices downward. Fortunately, Bitcoin managed to recover near its mining cost, and the declining hash rate showed signs of finally rebounding, indicating it has entered a bottoming phase.
2. Bitcoin Cash (BCH): Creating a Positive Feedback Loop Through Rebound Gains
On the other hand, Bitcoin Cash has shown a unique path, with its hash rate steadily increasing regardless of the market downturn. While Bitcoin was trapped in a vicious cycle of "price decline → miner surrender," Bitcoin Cash benefited from absorbing these departing miners through a "reflective effect." (Both use the same mining algorithm)
Not only did miners migrating from BTC enhance BCH network security, but they also served as a strong bearish support force. Even amid altcoin market volatility, BCH has become a driving force behind its relative recovery.
3. Wyckoff Perspective: End of Accumulation and Threshold for Explosive Growth
From a technical standpoint, looking at the trends over the past few months, Bitcoin Cash currently appears to be in a Wyckoff accumulation phase.
It is estimated that the accumulation of mining power from BTC has largely completed, and the current structure is about to enter an "expansion" phase, where energy is being gathered. With the network fundamentals ( hash rate) and technical indicators aligning, a strong bullish breakout is expected soon.
As we all know, Bitcoin Cash, the old fork, has demonstrated excellent defensive capabilities in this bear market. Although it has been mentioned several times in the channel, the technical structure is still in the accumulation process—so why does it only have such a good structure in a bear market? I am just speculating myself. Perhaps not many fell into the BTC trap, but it seems many will fall into the next trap, LIT.
#What’sNextforBitcoin?