Bitcoin Cash Price at Crossroads as Miners Sell and Whales Accumulate

Bitcoin Cash (BCH) miners have sold 250,000 coins this week, worth about $57.5 million, contributing to the recent price decline.

On-chain data shows BCH whales have been accumulating coins, now holding 2.56 million BCH worth $600 million.

If miners continue selling, BCH price could drop toward $200 support level.

Bullish whales could push BCH price up toward resistance around $242.

BCH price is at a crossroads depending on whether bears or bulls gain dominance in trading activity.