Bitcoin Cash Emerges as the Leading L1 Performer of the Year with 40% Increase

Bitcoin Cash (BCH) has emerged as the “top performer” among Layer-1 assets this year, rising nearly 40% and surpassing all major blockchain networks.

New data shared by analyst Crypto Koryo indicates that Bitcoin Cash (BCH) has exceeded BNB (BNB), Hyperliquid (HYPE), Tron (TRX), and XRP (XRP), which have experienced only modest gains. Most other L1s, including Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT), remain significantly down for the year, with many losing more than 50%.

Koryo noted that Bitcoin Cash’s impressive performance is notable given the project’s absence of an official X account. The analyst attributed this success to a positive combination of supply dynamics and new demand drivers.

On the supply side, BCH has no token unlocks, no foundation treasury, and no venture-capital pressure, which diminishes sell-side pressure. “The complete supply is circulating. No unlocks. No foundation, [no] VCs dumping,” Koryo mentioned.

Related: Three Binance Bitcoin charts indicate BTC’s next major move

Bitcoin anticipated to dip to $87K before rebounding to $100K

Meanwhile, Bitcoin may experience a short pullback before resuming its ascent towards the six-figure mark, according to trader Michaël van de Poppe.

In a Sunday post on X, the analyst proposed a bullish scenario where BTC dips to about $87,000 before next week’s Federal Reserve meeting, sweeping recent lows and setting the stage for a quick rebound.

Van de Poppe foresees the uptrend resuming once Bitcoin retests support and surpasses the critical $92,000 level, a breakout he believes could pave the way for a surge toward $100,000 within one to two weeks. He connects the outlook to a favorable macro environment, including reduced quantitative tightening, prospective rate cuts, and an expanding money supply.

However, he identified two invalidation points: dropping below $86,000 might trigger a decline to $80,000, or failing to maintain a position above $92,000.

Related: Bitcoin dispels the tulip myth after 17 years of proven resilience, says ETF expert

Bitcoin bull cycle may still be intact

As reported by Cointelegraph, technical analyst TXMC has highlighted that Bitcoin’s “liveliness” indicator, a long-term measure of on-chain coin spending versus holding, is rising again, a trend historically linked to bull market phases.