Bitcoin Cash (BCH) has become the “best performer” for a layer-1 asset this year, climbing nearly 40% and outperforming every major blockchain network.
Bitcoin Cash (BCH) has outperformed BNB (BNB), Hyperliquid (HYPE), Tron (TRX) and XRP (XRP), which saw only modest gains, according to new data shared by analyst Crypto Corio. Most other L1s remain in negative territory for the year, including Ethereum (ETH), Solana (SOL), Avalanche (AVX), Cardano (ADA) and Polkadot (DOT), with many declining by more than 50%.
Corio highlighted that Bitcoin Cash’s strong performance has come despite the project lacking an official X account. The analyst attributed the better performance to a favorable mix of supply dynamics and new demand catalysts.
On the supply side, BCH has no tokens unlocked, no foundation treasury and no venture-capital overhang, thereby reducing pressure on the sell side. “Entire supply circulating. No unlock. No base, [no] VCs are dumping,” Corio wrote.
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Bitcoin will fall to $87K before reaching $100K
Meanwhile, according to trader Michael van de Poppe, Bitcoin could be headed for a brief decline before resuming its climb towards six figures.
In a Sunday post on
Van de Poppe expects the uptrend to resume once Bitcoin retests support and surpasses the key $92,000 level, he believes a breakout could open the door to a move towards $100,000 within one to two weeks. He sees this outlook as a supportive macro backdrop, including less quantitative tightening, upcoming rate cuts and increasing money supply.
However, he identified two invalidation points, including losing $86,000, a move towards $80,000, or a failure to break and sustain above $92,000.
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The bullish cycle in Bitcoin may continue
As Cointelegraph reported, technical analyst TXMC noted that Bitcoin’s “livelihood” indicator, a long-term measure of on-chain coin spending versus holdings, is climbing again, a pattern historically associated with bullish market phases.
The analyst said that despite prices remaining soft, liveliness is increasing, which suggests stronger underlying demand for spot Bitcoin compared to the current price action. The metric rises when older coins start moving and falls when long-term holders accumulate.
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