Bitcoin slipped below $86,000 while Bitcoin Cash rallied sharply after CME Group announced plans to list Bitcoin Cash and Uniswap futures on 19 October.
Bitcoin Cash rose 28% in 24 hours to almost $349, the biggest gain among larger crypto tokens. The move followed CME Group’s announcement on Monday that futures contracts for Bitcoin Cash and Uniswap would be available on its platform from 19 October.
The launch of futures on a regulated US exchange gives investment funds a way to gain exposure to the cryptocurrencies without holding the underlying assets. That is particularly important for institutions whose investment mandates prevent them from directly taking custody of crypto.
The contracts will also provide market makers with a venue to hedge their positions, a development that typically helps bring spot prices closer together.
Bitcoin was trading at about $85,800, down less than 1% over the previous 24 hours. It had reached an intraday high of almost $87,300 on Monday, but encountered similar selling pressure at that level.
Other major moves included a 9% rise for ZEC, which climbed above $1,646, and a 3% increase for XRP to nearly $1.59. TRX moved in the opposite direction, falling 2%.
Alex Kuptsikevich, senior analyst at FxPro, said the strength of altcoins and equities pointed to a temporary movement of speculative money away from Bitcoin.
“Optimism in the altcoin market and in equities suggests that we are witnessing a temporary shift of speculative capital from the leading cryptocurrency into altcoins,” he said in an email to CoinDesk. “Many investors had parked their cryptocurrency-allocated capital in the most liquid asset class and are now seeking more profitable opportunities.”
He added that previous episodes of this kind had generally resulted in Bitcoin slowing rather than reversing its trend.
“In such situations, there has previously been a slowdown but not a reversal in BTC, as price pullbacks have attracted new buyers who had previously kept their money out of the risky crypto market,” Kuptsikevich said.
Bitcoin Cash’s latest rise has taken it back only to levels last recorded in the second half of May. The token had reversed close to $660 in early January before falling to $190.
If buying interest continues, $450 could become the next area of focus. Buyers were active at that level between October 2025 and this May.
Meanwhile, the Asia-Pacific region is emerging as an important testing ground as stablecoins become part of regulated financial systems. A report examining the region covers its rules and use cases, as well as the role of RLUSD.
