Share this article
Bitcoin Cash Slumps 4% as $400 Support Faces Heavy Selling Pressure
Bitcoin Cash falls 4% as it tests the $400 support level, with a descending channel pattern and resistance at $414-$415 challenging recovery efforts.
Updated May 30, 2025, 12:33 p.m. Published May 30, 2025, 12:26 p.m.
Make us preferred on Google
What to know:
- Bitcoin Cash (BCH) fell over 4% in 24 hours, driven by a midnight selloff with a volume spike to 35,649 units.
- The price drop highlights bearish sentiment as BCH struggles to maintain stability, with $400.57 as a critical support zone.
- Despite short-term recovery attempts, BCH faces strong resistance at the $414-$415 range, keeping the broader trend bearish.
Bitcoin Cash tumbled more than 4% in the past 24 hours, rattled by a midnight selloff that saw volume spike to 35,649 units and price action plunge below key resistance levels.
The decline — from $422.48 to a low of $403.83 — underscores the bearish sentiment gripping the crypto market amid broader economic uncertainties.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Technical analysis shows BCH struggling to find stable footing after the initial drop, with the $400.57 mark emerging as a critical support zone that has withstood multiple retests. Despite a brief recovery attempt, the $414-$415 range has turned into a formidable resistance level that has capped bullish momentum.
In the latest session, BCH experienced a short-term correction, slipping 0.84% from $405.25 to $401.86 before buyers stepped in to stem the bleeding. The bounce — accompanied by a notable 843-unit volume spike at 09:46 — pushed prices back above $404, hinting at some short-term optimism.
However, the broader trend remains bearish, with BCH trading in a descending channel defined by progressively lower highs and lows. For bulls to regain control, BCH must decisively reclaim the $410 level and break through the $414-$415 zone that has repeatedly rejected recovery attempts.
Technical Analysis
- BCH dropped 4.4% from $422.48 to $403.83 over the 24-hour period.
- Midnight trading saw a volume surge to 35,649 units, fueling the sharp decline.
- $400.57 has become a key support zone, holding firm against multiple retests.
- Resistance at $414-$415 remains strong, rejecting bullish advances.
- Short-term ascending channel forming with support around $402.00.
- $405.00 emerges as immediate resistance for any short-term rebound.
As the dust settles, all eyes are on whether BCH can break the downtrend or whether the bearish momentum will drag it below key support levels.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Kevin O'Leary says power is now more valuable than bitcoin
"Shark Tank" investor Kevin O'Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize.
What to know:
The big pivot: O'Leary has moved capital away from smaller tokens to focus on physical infrastructure like land, power, and copper.
- He believes power is now "more valuable than bitcoin" and has secured significant land deals with stranded natural gas in Alberta and the U.S.
- His thesis is driven by the massive energy needs of bitcoin mining and AI, noting that entities controlling power can serve either market.
- He advises investors to look at copper and gold, noting copper prices have nearly quadrupled for his projects in the last 18 months.
- He views Robinhood and Coinbase as "no-brainer" infrastructure investments, having reallocated capital from altcoins into these platforms. He describes Robinhood as the premier bridge for managing equity and crypto in one portfolio, while labeling Coinbase the "de facto standard" for businesses to manage stablecoin transactions and vendor payments once regulatory acts pass.
Top Stories
