Bitcoin Cash surged by 28% to nearly $349 in just 24 hours, marking the most significant increase among major cryptocurrencies. This rally followed the announcement by CME Group on Monday regarding the upcoming listing of Bitcoin Cash and Uniswap futures starting October 19.
The introduction of futures on a regulated U.S. exchange allows investment funds to engage with the cryptocurrency market without needing to own the assets directly, which is crucial for institutions that cannot hold cryptocurrencies due to internal regulations. Additionally, it provides market makers with a means to hedge their positions, which typically helps stabilize spot market pricing.
Currently, Bitcoin is priced at around $85,800, experiencing a slight decline of under 1% in the past 24 hours after reaching an intraday high near $87,300 on Monday, only to encounter selling pressure. Meanwhile, Zcash (ZEC) increased by 9% to just above $1,646, and XRP rose by 3% to nearly $1.59, while TRON (TRX) saw a decrease of 2%.
According to Alex Kuptsikevich, a senior analyst at FxPro, "The optimism surrounding altcoins and equities indicates a temporary shift of speculative investments from Bitcoin into alternative cryptocurrencies." He noted that many investors had previously allocated their cryptocurrency investments to the most liquid assets and are now looking for more lucrative opportunities.
He also observed that in past scenarios like this, Bitcoin has typically experienced a slowdown rather than a complete reversal, as price dips tend to attract new buyers who had previously refrained from entering the volatile crypto market.
Regarding Bitcoin Cash, it has recently returned to levels last observed in the latter part of May, recovering from a drop to $190 after peaking at around $660 in early January. If the upward momentum continues, the $450 mark could be within reach, where buyer activity was noted between October 2025 and May of this year.