Bitcoin Cash surges 26% as CME futures plan sparks short squeeze

Bitcoin Cash (BCH) surged roughly 26% over 24 hours to trade above $340 on Wednesday, emerging as one of the cryptocurrency market's strongest performers after CME Group unveiled plans to launch regulated BCH futures. The announcement triggered an immediate reaction, with Bitcoin Cash reportedly climbing approximately 14% within an hour before extending its advance toward $350. The rally was also reinforced by a short squeeze and renewed expectations that Grayscale could convert its existing Bitcoin Cash Trust into an exchange-traded fund. Together, those catalysts have brought the $388 resistance and a potential move toward $450 into focus.