Here's what happened when CME Group said it would list Bitcoin Cash futures: $BCH ripped 28% to nearly $349 while $BTC got sold into the same $87,300 high for the second session in a row.
Every trader knows that feeling of sitting in Bitcoin waiting for a breakout that never comes, then watching an alt you barely looked at explode on one piece of news. You wonder if you missed the rotation or if chasing now just turns you into someone else's exit.
Bitcoin Cash posted the biggest move among major tokens after CME announced $BCH and $UNI futures starting October 19. Bitcoin tagged Monday's high near $87,300 again and slipped to $85,500 as Treasury yields rose and the dollar firmed up. The contrast was hard to miss.
This setup echoes late 2017, when CME first listed Bitcoin futures and the market treated it like a coming-of-age moment right before a major top. The difference now is that $BTC already has that institutional access, so it just trades like any other risk asset against macro. $BCH, getting a new futures market for the first time, caught the speculative bid instead.
New listings still move coins that did not already have them. Bitcoin remains tied to yields and the dollar. The one with the fresh catalyst runs.
Where do you think $BCH goes once those October futures actually go live?
#Bitcoin #BitcoinCash #Futures
Every trader knows that feeling of sitting in Bitcoin waiting for a breakout that never comes, then watching an alt you barely looked at explode on one piece of news. You wonder if you missed the rotation or if chasing now just turns you into someone else's exit.
Bitcoin Cash posted the biggest move among major tokens after CME announced $BCH and $UNI futures starting October 19. Bitcoin tagged Monday's high near $87,300 again and slipped to $85,500 as Treasury yields rose and the dollar firmed up. The contrast was hard to miss.
This setup echoes late 2017, when CME first listed Bitcoin futures and the market treated it like a coming-of-age moment right before a major top. The difference now is that $BTC already has that institutional access, so it just trades like any other risk asset against macro. $BCH, getting a new futures market for the first time, caught the speculative bid instead.
New listings still move coins that did not already have them. Bitcoin remains tied to yields and the dollar. The one with the fresh catalyst runs.
Where do you think $BCH goes once those October futures actually go live?
#Bitcoin #BitcoinCash #Futures
