Analyst: '6-digit' BTC will be a symbolic rebuttal to skeptics

The price of Binance TRX/USDT has reached a historic high, now reported at $0.2136, up 7.50% in 24 hours, with a turnover of $131 million. After reaching a new high in price, there is a high probability of a price correction. (AICoin Research Institute)

According to BlockBeats, on November 23rd, asset management giant VanEck's latest report indicated that from key indicators, this rebound seems to have just begun. VanEck analyzed three key indicators: funding rate, relative unrealized profit (RUP), and retail interest trend: Since November 12th, the perpetual futures funding rate has been consistently above 10%, indicating an increasing bullish momentum; In addition, the current 30 day moving average relative unrealized profit level is about 0.54, which usually indicates that the market will reach its peak in a longer period of time; The popularity of search terms is only 34% of the high point in May 2021, indicating that speculative frenzy has not yet spread, and the re participation of retail investors will give Bitcoin further room to rise.

According to the popularity ranking, XRP's popularity and attention remain the same as yesterday, ranking first. The popularity ranking is as follows: ① XRP （$1.55，11.51%） ② PNUT （$1.19，-4.80%） ③ DOGE （$0.4641，18.94%） ④ OP （$2.22，5.71%） ⑤ ETH （$3359.89，-0.01%） The selling power of XRP's main funds is average, with a net outflow of $139 million within 24 hours and a transaction volume of $20.543 billion within 24 hours, of which the main funds had a net outflow of $113 million.

The Binance ETH/USDT perpetual funding rate is currently 0.04%, and long positions need to pay funding fees to short positions, indicating a high market sentiment. AICoin [PC - Home - Popular Rankings] has launched the "Fund Rate" ranking, which provides a list of rate arbitrage opportunities. Capital fees are an important mechanism for anchoring spot prices in perpetual contracts, used to balance long and short sentiment. When the funding rate is greater than 0, long positions pay funding fees to short positions; When the funding rate is less than 0, short sellers pay funding fees to long sellers.

LM Funding, a cryptocurrency mining and technology-based professional financial company listed on NASDAQ, announced its new unaudited financial report as of October 31, 2024 on its official website. The report revealed that the company's mining output in October was 7.3 BTC, higher than the 6.6 BTC mining output in September. Currently, the company holds 140.5 BTC worth approximately $13.3 million (based on BTC prices of $94700 on November 20).