VanEck: Three key indicators show that Bitcoin may have further room to rise
This article is machine translated
Show original
Foresight News reported, according to Cryptoslate, the latest report by asset management giant VanEck indicates that based on key indicators, this rebound seems to have just begun. Reportedly, VanEck analyzed three key indicators: funding rates, relative unrealized profits (RUP), and retail interest trends, showing that: the perpetual futures funding rate has been above 10% since November 12, indicating a strengthening bullish momentum; in addition, the current 30-day moving average relative unrealized profit level is around 0.54, which usually suggests the market will reach its peak over a longer period; 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.
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share