BCH Struggles Below $600 as Hard Fork Looms and Bear Market Deepens

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The cryptocurrency market is once again facing headwinds, with Bitcoin Cash (BCH) struggling to maintain momentum amid growing uncertainty. After briefly rallying in anticipation of its highly publicized hard fork, BCH has now dropped below $550, dashing hopes of a sustained recovery. With Bitcoin also breaking key support levels, the broader market sentiment remains fragile.

Market Downturn Intensifies

Recent price action paints a grim picture for digital assets. On November 10, BCH began leading the decline in the early hours, plunging from key resistance and dropping as low as $526** before stabilizing near **$550. This sharp correction coincided with a breakdown in Bitcoin (BTC), which fell below the critical $6,450 support level—long seen as a psychological and technical floor.

As of the latest data, BTC has been trading around $6,440**, while the total cryptocurrency market cap sits at approximately **$212.2 billion, down nearly $11 billion** in 24 hours. Trading volume has also contracted significantly, falling to **$123.56 billion, signaling weak participation and declining investor enthusiasm.

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Capital Flight from Major Cryptocurrencies

Capital flows reveal a troubling trend for major coins. Over the past 24 hours:

In contrast, smaller-cap assets like LTC, DASH, and TRX attracted inflows, with LTC leading at 1.474 billion CNY in new investment. This shift suggests investors are rotating into perceived safer or more active altcoins during the downturn.

Despite some optimism among retail traders who believe the market has reached a short-term bottom, technical indicators and capital movement suggest otherwise. The bearish structure remains intact, and without strong buying pressure, further downside is likely.

The BCH Hard Fork: Catalyst or Crisis?

All eyes are on the upcoming BCH hard fork, scheduled for November 15, 2025. This event will split the network into two competing chains: one supporting Bitcoin ABC (the current dominant version), and the other backing Bitcoin SV (Satoshi Vision), championed by Craig Wright and his supporters.

Holders of BCH before the fork will receive an equal amount of BSV, creating a short-term incentive to hold. However, experts warn this could lead to a wave of post-fork selling.

Exchange Preparations and Risks

Major exchanges have taken precautionary steps:

These measures reduce trading flexibility and may accelerate selling pressure as holders rush to secure positions before network changes take effect.

Global Exchange Responses Vary

Outside China, regulatory hurdles complicate matters. In Japan, due to strict Financial Services Agency (FSA) oversight, exchanges must obtain approval before listing new assets. As a result:

Compounding the issue, BSV lacks replay protection—a security feature that prevents transactions on one chain from being duplicated on the other. Without it, many exchanges may refuse to list BSV altogether, leaving investors unable to liquidate their forked coins easily.

This lack of clear exit routes diminishes the incentive to accumulate BCH ahead of the fork, weakening potential price support.

Mining Power and Ideological Battle

At the heart of this conflict is a clash of visions—and hash power.

Jihan Wu, co-founder of Bitmain and a key figure in the BCH ecosystem, recently stated:

“The entire BCH community is working together to resist the fake Satoshi. Resisting this cult leader proves the inner strength and wisdom of the BCH ecosystem.”

Behind these words lies a strategic buildup: Bitmain’s Antpool is reportedly deploying 90,000 S9 miners in Xinjiang, with some already operational. This move signals preparation for a potential hash war, where both factions use mining power to assert dominance over the network.

On one side:

On the other:

While the ideological battle energizes core supporters, it does little to attract new capital in a bear market.

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Is This Just a Bear Market Rally?

Historically, brief rallies during prolonged downturns often mislead investors into believing a bull cycle has resumed. But seasoned analysts caution against such optimism.

“Short-term rebounds don’t signify structural change,” notes one industry observer. “Looking back at Bitcoin’s past bear markets, transitions to bull phases typically take nearly two years—and require fundamental shifts in adoption, infrastructure, and macro conditions.”

The current uptick in activity around BCH is less about sustainable growth and more about speculative positioning ahead of the fork. Once the event passes, profit-taking could reignite selling pressure across the board.

Core Keywords Integration

Throughout this analysis, several key themes emerge:

These keywords reflect both search intent and real user concerns—offering clarity without keyword stuffing.

Frequently Asked Questions (FAQ)

Q: What happens to my BCH during the hard fork?
A: If you hold BCH in a supported wallet or exchange before November 15, 2025, you should receive an equal amount of BSV. However, not all platforms will distribute BSV tokens.

Q: Will BSV be listed on major exchanges?
A: Many exchanges, especially in regulated markets like Japan, may choose not to list BSV due to lack of replay protection and controversy surrounding its leader.

Q: Can the hard fork cause BCH’s price to rise permanently?
A: Unlikely. While forks can trigger short-term speculation, long-term value depends on adoption, utility, and network security—not just technical splits.

Q: Why did BTC drop below $6,450?
A: Loss of confidence after failed breakout attempts, combined with negative sentiment around BCH and macroeconomic factors, contributed to the breakdown.

Q: Should I sell my BCH before the fork?
A: It depends on your risk tolerance. Holding allows you to claim BSV, but selling avoids exposure to post-fork volatility and potential delistings.

Q: How do mining deployments affect the fork outcome?
A: Greater hash power increases a chain’s security and legitimacy. Bitmain’s S9 deployment strengthens Bitcoin ABC’s position in any potential hash war.

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Final Outlook

While the BCH hard fork brings drama and attention to an otherwise stagnant market, it is not enough to reverse the broader bear trend. Technical breakdowns, capital outflows, regulatory uncertainty, and limited exchange support all weigh heavily on sentiment.

For now, BCH has done its best—but even strong narratives can’t overcome weak fundamentals in a down market. Investors should remain cautious, focus on risk management, and prepare for continued volatility through 2025.

True recovery won’t come from forks or hype—but from lasting innovation, increased adoption, and renewed trust in decentralized systems. Until then, patience remains the most valuable asset.