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Bitcoin Cash Surges 30% in Single Day as Catch-Up Rally Explodes, Far Outpacing BTC

TradingKey

AuthorBlock Tao

Sep 23, 2026 6:30 AM

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On September 23, Bitcoin Cash surged 30% intraday, approaching $350 to reach a four-month high. This catch-up rally was primarily catalyzed by CME Group’s announcement to launch BCH futures contracts, expanding traditional financial institutional channels and boosting liquidity expectations. Additionally, capital rotation favored established PoW tokens with smaller previous gains. Despite the sharp increase, BCH remains down nearly 50% from its yearly peak of $680, lagging significantly behind Bitcoin’s year-to-date performance, which leaves potential room for continued upward movement.

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TradingKey - Bitcoin Cash launches catch-up rally, surging 30% in a single day and approaching the $350 mark.

On September 23, Bitcoin Cash (BCH) experienced a surge, soaring 30% intraday, far exceeding Bitcoin's gain of less than 2%, and outperforming Ethereum (ETH), Ripple (XRP), and the vast majority of cryptocurrencies. Meanwhile, the price of BCH approached $350, hitting a 4-month high.

bitcoin-btc-etf-199febce94f14c19887e6f7f9812c8ad BCH and BTC price changes, Source: CoinMarketCap

As a fork of Bitcoin, Bitcoin Cash's main catalyst for this sharp rise is CME Group's announced plans to launch BCH futures contracts. This represents a further opening of traditional financial institutional channels to BCH by a mainstream regulated derivatives exchange, following BTC and ETH, significantly boosting institutional interest and liquidity expectations for BCH.

In addition, while BTC and the broader market remained in a range of consolidation or mild rebounds, market capital shifted toward established public chains and PoW tokens with higher market caps and smaller previous gains. Leveraging its high liquidity and low token concentration, BCH quickly became one of the preferred targets for capital rotation upon the release of positive news, driving a strong rally-chasing effect.

Although BCH saw a surge today, it remains down nearly 50% compared to its peak of $680 earlier this year, far underperforming Bitcoin year-to-date, leaving room for a potential continued catch-up rally. To date, Bitcoin has largely recovered its losses for the year, down less than 1%.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

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Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

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