VanEck: Maintains BTC year-end target price at $180,000

ChainCatcher message, VanEck released an analysis report stating that Bitcoin achieved a key development from mid-July to mid-August: the price rebounded to $124,000, setting a new all-time high, and the Chicago Mercantile Exchange (CME) basis reached a new high for the year. VanEck maintains its year-end target price for Bitcoin at $180,000.

In terms of mining, although the stock price of mining company APLD has risen, most mining companies have underperformed. Notably, the share of global hash rate held by U.S. mining companies has reached a new high of 31.5%.

The report also pointed out that due to low volatility, the adjusted net asset value (mNAV) of Digital Asset Treasuries (DATs) has declined, which has suppressed financing and growth.