Bitcoin Cash (BCH) has become the “best performing” tier 1 asset this year, rising nearly 40% and outperforming every major blockchain network.
According to new data divided analyst Crypto Koryo, Bitcoin Cash (BCH) outperformed BNB (BNB), Hyperliquid (HYPE), Tron (TRX) and XRP (XRP), which posted only modest gains. Most other L1s, including Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT), remain deep in negative territory this year, with several down more than 50%.
Koryo noted that Bitcoin Cash is performing well despite the project’s lack of an official X account. The analyst attributed the better result to a favorable combination of supply dynamics and new demand catalysts.
On the supply side, BCH has no token unlock, no treasury, and no excessive venture capital investment, thus reducing the pressure on the sell side. “The whole supply is circulating. No unlocking. No foundation, (no) throwing away VC,” Koryo wrote.
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Bitcoin will drop to $87k before returning to $100k
Meanwhile, Bitcoin could pull back briefly before continuing its climb towards six figures, according to trader Michaël van de Poppe.
On Sunday publish on X, the analyst described a bullish scenario where BTC falls to around $87,000 ahead of next week’s Federal Reserve meeting, surpassing recent lows before setting the stage for a quick recovery.
Van de Poppe expects the uptrend to continue when Bitcoin retests support and breaks through the key $92,000 level, a breakout he believes could open the door to $100,000 within one to two weeks. He attributes the outlook to what he sees as a supportive macro backdrop, including reduced quantitative easing, looming interest rate cuts and a growing money supply.
However, he identified two reversal points, including a loss of $86,000, which could trigger a move to $80,000, or a failure to break and hold above $92,000.
Related: Bitcoin Buries Tulip Myth After 17 Years of Proven Resilience, ETF Expert Says
Bitcoin’s bull cycle may be intact
As reported by Cointelegraph, technical analyst TXMC noted that Bitcoin’s “liveliness” indicator, a long-term measure of on-chain coin consumption relative to holdings, is rising again, a pattern historically associated with bull market phases.
The analyst said vibrancy is increasing although prices remain muted, suggesting greater underlying demand for spot Bitcoin than the current price reflects. The metric rises when older coins start to move and falls when long-term holders accumulate.
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