Although the rest of the cryptocurrency market has remained essentially flatlined over the past 24 hours or so, Bitcoin Cash just plunged by over 5% in minutes. The move drove the popular altcoin from over $482 to $457 before it found some support and now trades close to $459.
Key takeaways
Quick scan — what you need to know:
- Although the rest of the cryptocurrency market has remained essentially flatlined over the past 24 hours or so, Bitcoin Cash just plunged by over 5% in minutes.
- The move drove the popular altcoin from over $482 to $457 before it found some support and now trades close to $459.
- BCHUSD March 29.
- Source: TradingView This sudden and rather unexpected drop came amid reports that an unknown whale had disposed of a big chunk of BCH tokens.
Background
What led here, in plain terms:
- Data shared by well-known analyst CW suggested that this entity sold off over 60,000 BCH in minutes, which led to an instant and violent uptick in the selling volume.
- Someone caused a drop by selling over 60,000 $BCH in a short period of time.
- pic.twitter.com/q6j8FvUrjR — CW (@CW8900) March 29, 2026 CoinGlass shows that almost $2.5 million worth of leveraged BCH positions have been wiped out in the past 24 hours.
- Expectedly, the majority ($2.4 million) was wrecked in the past few hours when the price calamity unfolded.
Why it matters
Why readers and decision-makers should care:
- Moreover, most of it was from a single position, which became the largest liquidation today.
- $2.15 million was liquidated on Binance involving the BCH/USDT trading pair.
- The post Bitcoin Cash Suddenly Dumps 5% as Whale Reportedly Dumps 60,000 BCH appeared first on CryptoPotato.