Following the halving event on April 4, 2024, during which Bitcoin Cash reduced miners' rewards from 6.25 to 3.125 coins per block at block height 840,000, the network experienced a significant increase in hashrate leading up to the event. The hashrate peaked at 8 exahash per second (EH/s) on April 1, 2024, suggesting increased miner participation to maximize rewards. However, post-halving, the hashrate stabilized around 3.78 EH/s, indicating some miners may have temporarily left the network.

In the aftermath of the halving, the price of Bitcoin Cash (BCH) surged by 6% to $651, despite negative market sentiment. Over the last 7 days, BCH saw a gain of over 21%, along with a remarkable 47% upside momentum in the last 30 days. Technical analysis suggests a bullish outlook for BCH, as it approaches its all-time high. Currently, BCH is trading near $729, a potential resistance level that, if breached, could trigger a significant upside momentum.

While Bitcoin Cash has shown strong performance, other major cryptocurrencies like Bitcoin, Ethereum, and Ripple are facing challenges and struggling in the current market conditions.