Bitcoin Cash gains nearly 40% to become ‘best performing’ L1 of the year

Bitcoin Cash (BCH) has become the “best performing” for Layer-1 asset this year, climbing nearly 40% and outperforming every major blockchain network.

According to new data shared by analyst Crypto Koryo, Bitcoin Cash (BCH) has outpaced BNB (BNB), Hyperliquid (HYPE), Tron (TRX) and XRP (XRP), which saw only modest gains. Most other L1s, including Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA) and Polkadot (DOT), remain deep in negative territory for the year, with several down more than 50%.

Koryo highlighted that Bitcoin Cash’s strong performance comes despite the project lacking an official X account. The analyst attributed the outperformance to a favorable mix of supply dynamics and new demand catalysts.

On the supply side, BCH has no token unlocks, no foundation treasury and no venture-capital overhang, reducing sell-side pressure. The “entire supply is circulating. No unlocks. No foundation, [no] VCs dumping,” Koryo wrote.

Related: Three Binance Bitcoin charts point to the direction of BTC’s next big move

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

Meanwhile, Bitcoin may be headed for a brief pullback before resuming its climb toward six figures, according to trader Michaël van de Poppe.

In a Sunday post on X, the analyst outlined a bullish scenario in which BTC dips to around $87,000 ahead of next week’s Federal Reserve meeting, sweeping recent lows before setting the stage for a swift rebound.

Van de Poppe expects the uptrend to resume once Bitcoin retests support and pushes through the key $92,000 level, a breakout he believes could open the door to a run toward $100,000 within one to two weeks. He links the outlook to what he sees as a supportive macro backdrop, including reduced quantitative tightening, upcoming rate cuts and an expanding money supply.

However, he identified two invalidation points, including losing $86,000, which could trigger a move to $80,000, or failing to break and hold above $92,000.

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

Bitcoin bull cycle may be intact

As Cointelegraph reported, technical analyst TXMC has noted that Bitcoin’s “liveliness” indicator, a long-term measure of on-chain coin spending versus holding, is climbing again, a pattern historically associated with bull market phases.