VanEck Predicts Bitcoin Price to Reach $180,000
VanEck’s latest report on Bitcoin reaffirmed its cycle price target of $180,000, citing strong bullish indicators that align with the current market rally.
Key Indicators of Bullish Sentiment
- Perpetual futures funding rates above 10% signal significant short to medium-term gains
- Relative Unrealized Profit (RUP) levels are below the threshold associated with market tops
- Retail interest, as measured by Google searches and Coinbase’s App Store ranking, indicates room for further growth
VanEck’s analysis of funding rates shows sustained high rates indicating heightened bullish momentum, similar to previous bull market phases. However, elevated rates over extended periods could signal cycle tops.
Relative Unrealized Profit (RUP) levels are currently below the threshold typically associated with market tops, suggesting favorable conditions for short to medium-term trades in the Bitcoin market.
Retail Interest on the Rise
Retail interest in Bitcoin, as measured by Google searches and Coinbase’s App Store ranking, has been increasing since the post-election rally. This suggests that speculative mania has not yet taken hold, indicating further potential upside.
VanEck expects Bitcoin’s price to potentially double from current levels, reflecting a roughly 1,000% return from the cycle’s trough to its peak at $180,000.
“With key indicators signaling green, this rally appears to be just beginning.”
