VanEck: Three key indicators show that Bitcoin may have further room to rise

PANews reported on November 23 that according to Cryptoslate, the latest report of asset management giant VanEck pointed out that from the perspective of key indicators, this round of rebound seems to have just begun. It is reported that VanEck analyzed three key indicators, namely funding rate, relative unrealized profit (RUP) and retail interest trend, showing:

1. Since November 12, the perpetual futures funding rate has been above 10%, indicating that the bullish momentum has increased;

2. In addition, the current 30-day moving average relative unrealized profit level is about 0.54, which usually indicates that the market will reach a peak in a longer period of time;

3. The search term heat is only 34% of the high point in May 2021, indicating that the speculative frenzy has not yet spread, and the re-engagement of retail investors will give Bitcoin room for further increases.