Key takeaways
- Bitcoin Cash drops sharply despite Bitcoin's relative stability
- BCH weekly losses exceed 13% as selling accelerates
- Traders watch $240 support ahead of major catalysts
Bitcoin Cash (BCH) plunged approximately 4.5% on November 8, extending its weekly losses beyond 13% even as Bitcoin remained relatively stable near $75,800.
Bitcoin Cash traded around $246 after touching a 24-hour low near $244. Bitcoin, meanwhile, changed less than 0.1% during a comparable market snapshot, highlighting a sharp divergence between the two cryptocurrencies.
Bitcoin Cash Underperforms Bitcoin as Weekly Losses Deepen
Bitcoin Cash has struggled to stabilize since November 5, when prices approached $290 before reversing sharply.
BCH subsequently fell below $270, lost the psychologically important $250 threshold and approached $244 during weekend trading. The decline pushed its seven-day losses beyond 13%, compared with a considerably smaller weekly retreat in Bitcoin.
The divergence suggests weaker relative demand for BCH during the latest market downturn, although price movements alone cannot establish whether traders are rotating capital into Bitcoin or exiting BCH positions entirely.
Bitcoin has also experienced significant volatility, including a recent decline toward $75,000.
However, BTC's subsequent stabilization near $76,000 contrasts with Bitcoin Cash's continued weakness, indicating that selling pressure has not been distributed evenly across the cryptocurrency market.
BCH Price Faces Critical $240 Support Test
The latest selloff has brought Bitcoin Cash close to an important short-term support area between $240 and $244.
A sustained breakdown below $240 could expose $230, followed by the $220 region if selling momentum continues. Those levels represent conditional downside scenarios rather than confirmed price targets.
On the upside, BCH would need to recover $250 before challenging the $260–$265 resistance zone, where recent trading activity established overhead selling pressure.
The broader market remains fragile after Bitcoin ETF withdrawals reached approximately $1.28 billion during November's opening trading week.
Although those funds track Bitcoin rather than Bitcoin Cash, changes in institutional risk appetite can influence sentiment across the cryptocurrency market.
Similar pressure has affected other major digital assets, with Ethereum struggling near $2,200 amid weaker investment flows.
Bitcoin Cash Upgrade Debate Adds Another November Catalyst
Beyond market conditions, Bitcoin Cash faces an important development milestone on November 15.
The proposed CHIP-2025-03 Faster Blocks upgrade would reduce BCH's average block interval from ten minutes to one minute, potentially improving transaction confirmation times.
However, developers and ecosystem participants remain divided over implementation readiness and technical tradeoffs. The proposal has not secured final agreement, and its proposed May 2027 activation remains uncertain.
There is no verified evidence that the upgrade debate caused November 8's selloff.
Investors are also preparing for the November 10 US inflation report, which could influence expectations for Federal Reserve interest rates and broader cryptocurrency demand.
