Institution: Three Key Metrics Show Bitcoin Still Has Room to Grow

BlockBeats News, November 23rd: Asset management giant VanEck's latest report indicates that this round of rebound seems to be just beginning, based on key indicators. VanEck analyzed three key indicators: funding rates, Relative Unrealized Profit (RUP), and retail interest trends:

Since November 12th, the perpetual futures funding rate has remained above 10%, indicating a strengthening bullish sentiment;

In addition, the current 30-day moving average Relative Unrealized Profit level is around 0.54, typically signaling that the market may peak over a longer time frame;

Search term popularity is only 34% of the May 2021 peak, indicating that speculative frenzy has not yet spread, and the re-engagement of retail investors will provide further room for Bitcoin to rise.