Bitcoin Cash experienced a 27% drop in value from July 6 to July 25 due to miners selling off a significant portion of their reserves. However, large-scale buyers known as "whales" have started purchasing again, with those holding 100,000 to 10 million BCH increasing their holdings by 230,000 BCH over the past two weeks. This has raised optimism among the global Bitcoin Cash community and could lead to a sustained price recovery towards the $300 mark, but the bulls must first overcome the $280 resistance. If the whales stop buying, the price of BCH may drop to $200, but it has a strong support base of 461,000 investors who purchased 2.25 million coins at a minimum price of $228. If this support level fails, BCH could retrace towards $200. There is speculation that bullish whales may push the price above $300 in August.