Bitcoin Cash Flippening

Is the Bitcoin Cash flippening happening right now? As of this posting, Bitcoin Cash (BCH) is up about 42% in the last 24 hours. Most other cryptos are down for the day. I don’t see the upside to holding BTC until the cancelled fork news gets baked into the price.
 
Some people on Twitter are calling this the BTC death spiral. The BTC mempool is really filling up now.

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