Bitcoin Cash (BCH) has been experiencing a downtrend in July, with losses mounting for investors. The Market Value to Realized Value (MVRV) ratio shows that most holders who acquired BCH in the last 30 days are now 8% underwater.

However, long-term BCH holders have made efforts to avert a prolonged bearish reversal, as shown by a drop in the Age Consumed metric.

Despite the potential for a rebound towards $270, BCH may face significant resistance at the $257 territory and could enter another round of losses if investors exit their positions.