Bitcoin Cash (BCH) has emerged as the “top performer” among Layer-1 assets this year, experiencing a nearly 40% increase and surpassing every prominent blockchain network.
Recent data shared by analyst Crypto Koryo reveals that Bitcoin Cash (BCH) has outperformed BNB (BNB), Hyperliquid (HYPE), Tron (TRX), and XRP (XRP), which only saw slight gains. Other major L1s, such as Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT), continue to linger in negative territory for the year, with many down over 50%.
Koryo emphasized that Bitcoin Cash’s impressive performance occurs despite the project’s absence of an official X account. The analyst credited this success to a favorable combination of supply dynamics and new demand influencers.
On the supply front, BCH benefits from having no token unlocks, no foundation treasury, and no venture-capital pressures, which lessens sell-side pressure. “The entire supply is circulating. No unlocks. No foundation, [no] VCs dumping,” Koryo noted.
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Bitcoin predicted to dip to $87K before rebounding to $100K
In the meantime, Bitcoin might see a short pullback before continuing its journey towards six figures, as suggested by trader Michaël van de Poppe.
In a Sunday post on X, the analyst presented a bullish outlook where BTC could drop to around $87,000 ahead of next week’s Federal Reserve meeting, touching recent lows before paving the way for a quick rebound.
Van de Poppe anticipates the upward trend to resume once Bitcoin reestablishes support and breaks through the crucial $92,000 level, a breakout he believes could lead to a rise towards $100,000 within one to two weeks. He connects this forecast to what he perceives as a favorable macro environment, including reduced quantitative tightening, upcoming rate cuts, and a growing money supply.
However, he identified two invalidation points: the loss of $86,000, which could trigger a descent to $80,000, or a failure to break and maintain above $92,000.
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Bitcoin bull cycle may still be intact
As Cointelegraph reported, analyst TXMC has observed that Bitcoin’s “liveliness” indicator, a long-term measure of on-chain coin spending relative to holding, is on the rise again, a trend historically linked to bull market phases.
The analyst remarked that liveliness is increasing even as prices remain subdued, suggesting a stronger underlying demand for spot Bitcoin than the current price movements indicate. The metric rises when older coins start to move and declines when long-term holders accumulate.
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