VanEck, Managing $32 Billion, Responds: “Are We in a Bear Market or a Bull Market for Bitcoin?”

Asset management giant VanEck described the recent Bitcoin price drop as a “liquidity-driven mid-cycle correction” in its Bitcoin ChainCheck report published in ￰0￱ to the company, strong fundamentals, increasing adoption rate, and on-chain data indicate that the Bitcoin market is ￰1￱ included the following statements in his report: Bitcoin's October pullback is a 'mid-cycle reset' driven by tightening global liquidity ￰2￱ ratios are returning to normal, on-chain activity is increasing, and the macroeconomic role of digital assets continues to ￰3￱ News: The 15 Altcoins Crypto Developers Worked on the Most in the Last Week Have Been Revealed The company also shared its three key findings for the source of Bitcoin price movements: VanEck noted that global M2 money supply growth explains more than half of Bitcoin's price movements, noting that Bitcoin continues to function as a hedge against money ￰4￱ prominence of price discovery during Asian trading hours suggests that regional liquidity crunch is increasing short-term ￰5￱ open interest peaked at $52 billion in early October, and subsequent liquidations caused Bitcoin to lose approximately 18% of its ￰6￱ to VanEck, leverage has now returned to normal levels, and prices are trading at year-lows relative to gold.

Therefore, the firm views this as a mid-cycle correction, not the beginning of a bear ￰7￱ reached an all-time high of $125,000 on October 6 before falling to $105,000 on October ￰8￱ 30-day average price is up 2% ￰9￱ attributed this decline to US-China trade tensions, high leverage levels, and profit-taking by large investors. *This is not investment ￰10￱ Reading: VanEck, Managing $32 Billion, Responds: “Are We in a Bear Market or a Bull Market for Bitcoin?”