Why is Bitcoin Cash moving today?

Bitcoin Cash is essentially flat on the day, up 0.6% at $341.80 while Bitcoin slips 0.8% to $83,940 — a pause after a 33.3% run over the past week that still leaves BCH's market cap at $6.87B. There is no BCH-specific catalyst in today's news flow; the only coin-level headline is Stellar overtaking Bitcoin Cash in market capitalization as XLM climbed more than 13%, pushing BCH down the rankings to #21.

The dominant forces are market-wide. A historic US bond selloff drove the 10-year Treasury yield to 5.22%, a decades-high borrowing cost, and traders cut roughly $1.7 billion in leverage as Bitcoin held near $84,000. Sentiment is also digesting the $350 million drain of Bitget's hot and cold wallets reported on 24 September.

Offsetting that, the SEC issued clarifications easing token and staking classification, though the agency simultaneously lost its most crypto-friendly voice with Commissioner Hester "Crypto Mom" Peirce formally resigning. Turnover on $365.52M in 24-hour volume suggests consolidation rather than fresh directional news.