![\"Bitcoin](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/10\/bitcoin-price.png\")
\n<\/picture> <\/div>\n<\/p><\/div>\n- \n
- Bitcoin Cash price has dipped below $550 as Bitcoin sees a sharp decline to under $87,000.<\/li>\n
- The altcoin\u2019s value could shrink to under $500 if BTC plummets further.<\/li>\n
- Macroeconomic headwinds continue to hinder bulls.<\/li>\n<\/ul>\n
Bitcoin Cash (BCH) traded near the pivotal $560 support level amid broader market uncertainties, with Bitcoin\u2019s dip to under $87,000 further spooking crypto investors.<\/p>\n
As the cryptocurrency landscape keeps fluctuating, it appears BCH bulls could be in more trouble.<\/p>\n
The altcoin\u2019s price stood at $546 as of writing, down 4% in the past 24 hours.<\/p>\n
Bitcoin Cash dips 4% as Bitcoin slips under $87,000<\/h2>\n
Bitcoin Cash price was down $4% as a turbulent December continued to torment bulls.<\/p>\n
Amid a wider market weakness, the BCH price dipped below $550<\/a> to signal fresh turmoil.<\/p>\n
That\u2019s because after surging to highs of $600, the altcoin has encountered increased profit-taking. Pressure has mounted amid Bitcoin\u2019s struggles.<\/p>\n
On December 14, the Bitcoin Cash price dipped to $556. Bears went on to test the 550 mark, and prices have since dipped to near $540.<\/p>\n
The downturn mirrored Bitcoin\u2019s sharp dip from above $90,000 in early trading on Monday to around $86,700 at the time of writing.<\/p>\n
Ethereum price also plunged<\/a> to the $3,000 support level, with BitMine announcing a fresh ETH buy.<\/p>\n
Why are cryptocurrencies down today?<\/h2>\n
Market participants attribute the downturn to macroeconomic headwinds, including lingering inflation concerns.<\/p>\n
Last week, the bellwether digital asset failed to rally as the US Federal Reserve announced a rate cut.<\/p>\n
Now, BTC\u2019s sharp decline comes as the Bank of Japan is set for a rate hike.<\/p>\n
Historically, Bitcoin price has tanked on BOJ rate hikes, and analysts see the upcoming move as bearish for crypto.<\/p>\n
This week is also lined with key economic data releases.<\/p>\n
Overall risk-off sentiment saw over $50 million in Bitcoin longs liquidated.<\/p>\n
That happened within an hour as BTC fell 3% following the Wall Street open. Crypto analyst Lark Davis shared this via X.<\/p>\n
\n
Bitcoin is down roughly 3% since the US market open.<\/p>\n
$50 billion wiped out from $BTC<\/a> market cap <\/p>\n
$200 million worth of longs liquidated in the past 60 minutes. pic.twitter.com\/DJT3zvARyW<\/a><\/p>\n
\u2014 Lark Davis (@TheCryptoLark) December 15, 2025<\/a><\/p>\n<\/blockquote>\n
BCH price technical outlook<\/h2>\n
Technical indicators paint a largely short-term bearish picture.<\/p>\n
On the daily chart, the Relative Strength Index (RSI) sits at 47 after flipping downward from 56.<\/p>\n
This downward flip in RSI, coupled with increasing bearish momentum, hints at further price declines.<\/p>\n
Meanwhile, the Moving Average Convergence Divergence also shows a bearish crossover, indicating a potential short-term price pressure.<\/p>\n
![\"Bitcoin](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/12\/bitcoin-cash-bch-chart.png\")
Bitcoin Cash price chart<\/a> by TradingView<\/figcaption><\/figure>\n BCH could thus drop to $500, and if these indicators align with a broader market sell-off, as is the case today, it could allow sellers to push for $450 and $380 next.<\/p>\n
However, an uptick with RSI gaining steam and MACD seeing an inflexion could allow for a retest of $600.<\/p>\n