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Veteran trader Peter Brandt says Bitcoin Cash (BCH) is leading the cryptocurrency market recovery with its performance. In a recent post, Brandt noted that noise and distraction in the crypto sector are gradually fading, allowing traders to focus on price action.
Bitcoin Cash price and volume support breakout narrative
Notably, in an accompanying chart to the post, Brandt highlighted bullish technical setups with Alibaba stocks (BABA) set for a breakout. In the chart, the stock is on an ascending triangle pattern, while Bitcoin Cash is on a falling wedge.
Generally, this falling wedge is seen as bullish as it could signal a potential upward move for an asset. According to Brandt, the current setup suggests that Bitcoin Cash is ready for a massive rebound after its period of fluctuations.
Enough with the politics - the year of trading begins$BABA set for breakout from falling wedge$BCH is leading the charge pic.twitter.com/wSiy2Z1olQ
— Peter Brandt (@PeterLBrandt) January 5, 2026
He implies that BCH is already showing strength early, and it could be a leading indicator for further moves in crypto.
"BCH is leading the charge," he emphasized.
In the broader crypto market, Bitcoin Cash is outperforming by over 2% as it rose by 3.66%. Prices surged from a low of $637.10 to a peak of $665.66.
As of this writing, Bitcoin Cash changed hands at $662.80, which represents a 3.1% increase in the last 24 hours.
The asset’s trading volume is up by 15.04% to $667.89 million within the same time frame. This might be a result of the BCH/USD1 pair listing on Binance. The added pair will reduce the reliance on BTC/ETH pairs and simplify things for traders.
Other technical indicators also support the breakout narrative of Brandt, as the Relative Strength Index (RSI) at 64.98 suggests room for upside. It indicates that the coin could possibly soar to $700 before overbought conditions set in.
Can Bitcoin Cash push toward $700 and flip Cardano?
If BCH's current momentum supports its climb to $680, the asset might easily flip the $700 mark and make a run for higher levels. However, if it slips below $650, Bitcoin Cash could reverse its gains and crash to between $625 and $628.
There were bullish moves in December 2025 tied to Bitcoin Cash as the CEO of ShapeShift exchange, Erik Voorhees, swapped his nine-year dormant Ethereum for BCH. The surprise portfolio rebalancing sparked speculation in the market as many traders considered it a huge bet on Bitcoin Cash.
Meanwhile, the dominance fight between Bitcoin Cash and Cardano for the top 10 position remains on course. If BCH keeps spiking in price, it could close the market capitalization gap and possibly flip Cardano.