VanEck’s latest Bitcoin report confirmed its price target of $180,000, noting strong bullish indicators in the current market rally. It looked at several metrics that signal the bull market is still in its early stages. One of these is funding rates, which have been consistently above 10% since Nov.
12, 2021, indicating heightened bullish momentum. Another metric is Relative Unrealized Profit (RUP), which measures gains in the market. Current RUP levels are below the 0.70 threshold often associated with market tops. Finally, retail interest remains below historical peaks, indicating that speculative mania has not yet taken hold.
VanEck expects Bitcoin’s price to double from current levels, reflecting a roughly 1,000% return from the cycle’s trough to its peak at $180,000.
