VanEck: Three Key Indicators Show Bitcoin Has Further Upside Potential

ChainCatcher news, asset management giant VanEck's latest report indicates that, from key indicators, this round of rebound seems to have just begun. VanEck analyzed three key indicators: funding rates, relative unrealized profits (RUP), and retail interest trends:

• Since November 12, the perpetual futures funding rate has remained above 10%, indicating a strengthening bullish momentum;
• Additionally, the current 30-day moving average of relative unrealized profit levels is about 0.54, which typically suggests that the market will peak over a longer cycle;
• The search term popularity is only 34% of the peak in May 2021, indicating that speculative frenzy has not yet spread, and the re-engagement of retail investors will provide further upside potential for Bitcoin.