Bitcoin Cash hovers above $440 demand zone as bearish structure and on-chain data flash risk signals

Bitcoin Cash slipped into the long-term $440–$470 demand zone and briefly bounced from $470, but the broader price structure and momentum indicators remained bearish. On-chain data for 2026 showed uneven accumulation, with some mid-sized and large holders adding while other cohorts continued to sell, and the 90-day MVRV fell to its lowest level since October 2025. With the 365-day Mean Coin Age reflecting waves of distribution and capital outflows intensifying, a decisive drop in Bitcoin below $70,000 and $66,000 could put the $440 support at risk.