Bitcoin Cash Amid a Broader Crypto Sell‑off

The market environment on 24 Feb 2026 was dominated by a steep decline in Bitcoin (BTC) and a corresponding wave of losses across the larger‑cap altcoins, including Bitcoin Cash (BCH). While Bitcoin fell below the $63 000 mark for the first time since early February, BCH’s price was dragged down by more than 11 %, reflecting the heightened risk‑off sentiment that swept through global markets.

Key Market Movements

  • Bitcoin: The dominant digital asset slid from $63 163.78 to $62 950, the lowest level since $60 200 on 6 Feb. The fall was part of a four‑day downtrend that mirrored broader market stress, with the Dow dropping 822 points on Monday and the dollar index (DXY) rising by 0.5 % after Asian hours.
  • Bitcoin Cash: With a 52‑week low of $250.79 and a 52‑week high of $668.06, BCH’s current close of $484.91 on 23 Feb placed it well above its lowest recent level but still subject to the same liquidity pressures that hit BTC. The 11 % plunge placed the currency near the bottom of its 90‑day moving average, a red flag for short‑term traders.
  • Altcoin Landscape: ETH, SOL, XRP, DOGE, BNB, and SUI all declined, many falling more than 3 % in a single day. Glassnode data indicated a significant drop in the BTC Realized Profit/Loss Ratio (90D‑SMA) below 1, suggesting a growing number of holders are in a losing position and may liquidate.

Fundamental Context

  • Market Capitalisation: BCH’s market cap stood at $9.99 bn as of 23 Feb, placing it among the top‑tier crypto assets but still vulnerable to systemic shifts in investor sentiment.
  • Price Trajectory: The asset has shown a recent upward trend, closing at $484.91 on 23 Feb, up from $466.71 on 19 Feb. This recent gain positioned it well above the 50‑day moving average, yet the current sell‑off threatens to erode that cushion.
  • Historical Extremes: The 52‑week high of $668.063 on 4 Jan and low of $250.793 on 6 Apr provide context for the current volatility. The recent decline places BCH closer to its low but still well above the 2024 floor.

Implications for Traders and Investors

  1. Liquidity Risk: The sharp decline in BCH, combined with the broader sell‑off, elevates liquidation risk for holders with short‑term positions. Traders should monitor the 90‑day moving average and the BTC Realized P/L ratio for signs of a sustained downtrend.
  2. Risk‑off Tilt: Global equities are under pressure, with European stocks slipping and the Stoxx 600 falling. The crypto market’s sensitivity to equity market sentiment suggests that a continued downturn could further pressure BCH.
  3. Potential for Rebound: Historical demand zones, such as the $500 and $600 levels, could act as support if the market stabilises. Any rally in Bitcoin or the broader market may spill over into BCH, given its close correlation with BTC.

Forward‑looking Perspective

While the present environment is challenging, BCH’s relative stability compared to more volatile altcoins and its sizeable market cap could serve as a buffer against a complete market collapse. However, the convergence of a declining BTC, a weakening dollar index, and rising equity sell‑off signals that caution remains warranted. Investors should maintain diversified exposure, monitor technical thresholds closely, and be prepared for further short‑term volatility before considering any long‑term repositioning.