Key Notes

BCH achieved a rising wedge breakout with technical indicators pointing toward a potential $1,000 price target in the near term.

Open interest in Bitcoin Cash derivatives increased 4.5% as fresh capital entered the market, validating the rally's strength beyond rotation.

The altcoin benefited from broader risk appetite as US equities turned positive and traders anticipated another Federal Reserve rate reduction.

Bitcoin Cash BCH $611.4 24h volatility: 3.9% Market cap: $12.21 B Vol. 24h: $343.10 M price traded as high as $609 on October 3, benefitting from increased investor risk appetite, amid positive US stock market performance and expectations of a second consecutive Fed rate cut. This brings BCH price gains over the last five days to 14.2%.

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