TechFlow news — On November 23, asset management giant VanEck reiterated its price target of $180,000 for Bitcoin in this cycle, stating that the current rally appears to be just beginning based on key indicators. VanEck analyzed three critical metrics: funding rates, relative unrealized profit (RUP), and retail interest trends, noting:
1. Perpetual futures funding rates have remained above 10% since November 12, indicating strengthening bullish momentum;
2. The current 30-day moving average of relative unrealized profit stands at approximately 0.54, which typically suggests the market will peak over a longer time horizon;
3. Search term interest is only at 34% of the May 2021 peak level, suggesting speculative frenzy has not yet taken hold, and renewed retail investor participation could drive further upside for Bitcoin.
