CME Futures Send Bitcoin Cash Soaring Above $350
Crypto market participants are abuzz after CME Group announced plans to launch regulated Bitcoin Cash (BCH) futures on October 19. The development has sparked a significant price increase, with BCH surging from around $270 to above $350 in just over a day.
The surge was accompanied by a substantial rise in trading volume, reaching approximately $1.36 billion, while spot trading activity climbed to about $111 million. This sudden move has cleared a months-long descending trendline and the $300-$310 resistance zone, putting the key support at $350 into focus.
The CME announcement provides professional traders with a regulated instrument for hedging and directional exposure without requiring direct spot ownership. The exchange already handles substantial crypto derivatives activity, averaging 279,800 contracts per day worth $8.3 billion in notional value during the first half of 2026, while average open interest stood at $15.4 billion.