Bitcoin Cash's current performance remains relatively stable. $BCH is consolidating around $638.8, with a 24-hour increase of only 0.66%. However, the trend shows little pressure—after approaching the daily high of $653, the price pulled back, and then buyers demonstrated strength at the $622 support zone.

Several factors are supporting the market: trading volume remains at a relatively stable level, indicating decent market participation; the narrative of BCH as a payment tool is still effective, with on-chain transaction demand providing confidence for the price; from a mining perspective, the adherence to the PoW mechanism keeps BCH aligned with broader miner sentiment; combined with the current consolidation phase, traders are waiting for clearer breakout signals.

In the short term, the key is whether BCH can regain above $650 or continue to drift within this range. Volatility is relatively low, creating room for the next move.