According to the news from Mars Finance, on November 23, the asset management giant VanEck reiterated its target price for Bitcoin in this cycle at $180,000, and stated that based on key indicators, this rebound seems to have just begun. It is reported that VanEck analyzed three key indicators: funding rates, relative unrealized profits (RUP), and retail interest trends, and pointed out that:
1. The perpetual futures funding rate has been above 10% since November 12, indicating a strengthening bullish momentum;
2. In addition, the current 30-day moving average relative unrealized profit level is around 0.54, which usually suggests that the market will reach its peak over a longer period;
3. The search volume is only 34% of the May 2021 high, indicating that the speculative frenzy has not yet spread, and the re-participation of retail investors will allow Bitcoin to have further upside potential.
