VanEck, a big asset management company, said in a new report that the recent rebound in Bitcoin prices might just be starting. They looked at three important things: funding rates, relative unrealized profits (RUP), and retail interest trends. They found that since November 12, perpetual futures funding rates have been above 10%, which shows bullish momentum.
Also, the 30-day moving average relative unrealized profit level is 0.54, suggesting the market might reach a peak in the cycle in a longer time. Lastly, the search term popularity is only 34% of the high in May 2021, meaning the speculative mania isn’t there yet. Retail investors joining back in will give Bitcoin more room to rise.