Bitcoin Cash (BCH) has emerged as the top-performing Layer-1 asset this year, with a substantial rise of nearly 40%, surpassing the performance of all major blockchain networks. Analyst Crypto Koryo's recent data reveals that Bitcoin Cash has outperformed other notable blockchains such as BNB (BNB), Hyperliquid (HYPE), Tron (TRX), and XRP (XRP), which have experienced only minor gains. In contrast, other Layer-1 networks, including Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT), have encountered significant setbacks, with many suffering declines exceeding 50% this year.
Koryo pointed out that Bitcoin Cash's exceptional performance is noteworthy considering the project does not have an official presence on X (formerly Twitter). The analyst attributes this success to a beneficial combination of supply-side factors and emerging demand drivers. On the supply front, Bitcoin Cash benefits from having no token unlocks, no foundation treasury, and no venture capital overhang, which collectively reduce selling pressure. Koryo emphasized, "The entire supply is circulating. No unlocks. No foundation, no VCs dumping."
In a separate analysis, trader Michaël van de Poppe anticipates Bitcoin may experience a temporary dip before continuing its upward trajectory toward six-digit figures. In a post on X, he outlined a positive scenario where Bitcoin might drop to around $87,000 before the upcoming Federal Reserve meeting, potentially setting the stage for a quick recovery. Van de Poppe forecasts that Bitcoin's uptrend will resume once it finds support and surpasses the crucial $92,000 level, potentially paving the way for a surge to $100,000 within one to two weeks. He links this outlook to a supportive macroeconomic environment, including reduced quantitative tightening, impending rate cuts, and an expanding money supply. However, he warns of potential declines if Bitcoin falls below $86,000 or fails to maintain above $92,000.
Technical analyst TXMC has also noted positive signs for Bitcoin. According to TXMC, Bitcoin's "liveliness" indicator, which tracks on-chain coin spending versus holding, is on the rise again, a trend historically associated with bull market phases. Despite muted price movements, the increasing liveliness suggests stronger underlying demand for Bitcoin. This metric tends to rise when older coins start moving and falls when long-term holders accumulate.