Bitcoin Cash (BCH) has change into the “best-performing” Layer 1 asset this yr, rising nearly 40% and outperforming all major blockchain networks.
According to latest data from analyst Crypto Koryo, Bitcoin Cash (BCH) has overtaken BNB (BNB), Hyperliquid (HYPE), Tron (TRX) and XRP (XRP), which only posted modest gains. Most other L1s, including Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT), remain deep in negative territory this yr, with several down greater than 50%.
Koryo emphasized that Bitcoin Cash's strong performance comes despite the project not having an official X account. The analyst attributed the outperformance to a good mixture of supply dynamics and latest demand catalysts.
On the availability side, BCH has no token unlocks, no endowment fund, and no enterprise capital overhang, reducing pressure on the sell side. “The entire supply is in circulation. No activations. No foundation, [no] VCs dumping,” Koryo wrote.
BCH becomes L1 with one of the best performance of the yr. Source: Crypto Koryo
Bitcoin falls to $87,000 before rising back to $100,000
Meanwhile, in line with trader Michaël van de Poppe, Bitcoin might be heading for a transient decline before resuming its rise towards six figures.
In a Sunday post
Van de Poppe expects the uptrend to resume once Bitcoin retests support and breaks the important thing $92,000 level. In his opinion, a breakout could open the door for an increase towards $100,000 inside every week or two. He links the outlook to what he sees as a supportive macroeconomic backdrop, including less quantitative tightening, impending rate of interest cuts and money supply expansion.
However, he identified two reasons for invalidity, including the lack of $86,000, which could trigger an increase to $80,000, or the failure to interrupt and hold the $92,000 level.
The Bitcoin bull cycle might be intact
As Cointelegraph reported, technical analyst TXMC has found that Bitcoin's “liveness” indicator, a long-term measure of spending on coins on-chain versus holding, is rising again, a pattern historically related to bull market phases.
The analyst said that buoyancy is increasing whilst prices remain subdued, suggesting that underlying demand for spot Bitcoin is stronger than current price motion reflects. The indicator increases when older coins move and reduces when long-term holders accumulate.
