Looking at BCH's performance over this period, it has indeed been quite resistant to declines. Compared to other cryptocurrencies, this one’s resilience is clearly stronger—year-to-date, it has only fallen about 13%, while Bitcoin has already halved to a -38% decline.

Why is it so tough? Let's start with the fundamentals. BCH's hash power is largely controlled by miners, who are not only maintaining network security but also influencing price expectations through their holdings. More importantly, there is a group of large whales who have been accumulating BCH long-term, holding a significant amount of chips.

The combination of miners + large holders is like giving BCH an invisible support. If you want to smash it, they just accumulate. Want to profit from a short? The difficulty level skyrockets. That’s why many people, when looking at BCH, ultimately give up on the idea of shorting.