Global investment firm VanEck has once again set its sights on Bitcoin reaching $180,000 at the height of this market cycle.
In a recent report published on Nov. 21, VanEck digital asset strategists Nathan Frankovitz and Matthew Sigel shared their view that the crypto bull market is still in its early stages.
The analysts cited favorable regulatory shifts in the U.S. and increasing interest from institutional investors as key drivers that could push Bitcoin (BTC) to $180,000 over the next 18 months.
They, along with other market commentators, pointed to Donald Trump’s recent election victory as a major factor fueling the latest surge, which saw Bitcoin peak at $99,800 within the past day.
At the time of writing, Bitcoin is trading at $98,500, just 1.5% shy of the historic $100,000 milestone, according to TradingView data.
High funding rates show signs of overheating
VanEck’s analysis revealed that as of Nov. 11, Bitcoin entered a “new phase,” marked by perpetual futures contracts with funding rates exceeding 10%.
“This development signals robust short- to medium-term momentum. Historically, elevated funding rates correlate with higher returns over 30 to 90 days, demonstrating strong bullish sentiment and demand,” they explained.
However, the analysts also warned that prolonged elevated funding rates could pose challenges for longer-term investors.
“Data shows that when funding rates exceed 10%, purchases made during such times tend to underperform after 180 days, with even sharper declines noted over one- and two-year periods.”
Many analysts have predicted that Bitcoin will surpass $100,000 by the end of the year, with some expecting the milestone to be reached within the next week given current market dynamics.
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