VanEck: Three key indicators show that Bitcoin still has room for further growth
On November 23, a new report from asset management giant VanEck pointed out that this rebound seems to have just begun according to key indicators. VanEck analyzed three key indicators: funding rates, Relative Unrealized Profit (RUP), and retail interest trends:
Since November 12, the perpetual futures funding rate has consistently been above 10%, indicating an increasing bullish momentum;
In addition, the current 30-day moving average of RUP is approximately 0.54, which usually suggests that the market will peak over a longer period;
The search term heat is only at 34% of its May 2021 high point, indicating that speculative frenzy has not yet spread and the re-participation of retail investors could provide further room for Bitcoin to rise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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