Bitcoin Dips, But Its Forks Are Flying Again
Bitcoin eased back toward $84,000 after reaching a seven-month high near $87,250, while traders shifted into its two major forks, Bitcoin Cash (BCH) and Bitcoin SV (BSV). BCH rallied on CME Group’s plan to launch regulated Bitcoin Cash futures on Oct. 19, pending approval, and on Grayscale’s filing to convert its Bitcoin Cash Trust into a spot ETF. BCH surged as much as 30% intraday and briefly topped $358. BSV gained about 20% in sympathy, reaching an annual high near $21, with rising derivatives open interest suggesting new speculative positioning. The moves fit a familiar pattern: Bitcoin forks often outperform sharply in short bursts because of their smaller market caps and higher volatility, but those gains tend to fade. Spot Bitcoin ETFs still saw strong inflows, bringing in $715 million on Tuesday even as Bitcoin’s price stalled.
