An expert in finance has identified three key bullish indicators for Bitcoin (BTC).

During a recent conversation with Scott Melker, Matthew Sigel, VanEck’s Head of Digital Assets, revealed that certain recent metrics have fueled his optimistic outlook on BTC.

Sigel explained, “On Tuesday, I became increasingly bullish after observing certain signs of capitulation in the market, such as realized losses among short-term holders exceeding 500 million, marking one of the top five instances in Bitcoin history. Additionally, BTC’s volatility reached 21, a 30-day annualized value that is notably low…”

The metrics that Sigel highlighted as flashing bullish signals for BTC include realized losses, volatility, and drawdown. Realized losses denote the variance between the purchase and sale prices of BTC holders, while volatility reflects the historical scatter of BTC prices. Drawdown, on the other hand, illustrates how far BTC has descended from its peak of $73,737, recorded four months earlier.

At present, BTC is valued at $61,846.

In a noteworthy projection, Sigel also hinted last week that Ethereum (ETH) could potentially surge by a staggering 4,225%.

In a recently issued report, VanEck outlined a base case scenario for Ethereum with a target price of $22,000, representing a potential 518% increase from the current level. To reach the bullish case scenario, Ethereum’s price would need to skyrocket by 4,225% from its present value.

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