VanEck Sticks to $180K Bitcoin Target Despite Recent Pullback
VanEck has reaffirmed a $180,000 year-end Bitcoin price target despite recent volatility. Heavy institutional buying in July saw exchange-traded products accumulate 54,000 BTC and corporate treasuries add 72,000 BTC. Bitcoin price slid to $112,000 in early August before rebounding to a $124,000 high mid-month, then settling near $115,000. Derivatives metrics signal growing speculative interest: CME basis funding rates at 10%—the highest since February 2025—options call/put ratios at 3.21x with $792 million spent on calls, and implied volatility compressed to 32%. Futures open interest remains above $6 billion despite a $2.3 billion unwind during the pullback. Analysts remain divided: some foresee Bitcoin price reaching $1 million by 2030 on clearer regulations and institutional adoption, while others warn a peak may reflect economic stress. Key support lies in the $100,000–$110,000 range. Whether VanEck’s bullish outlook materializes will depend on sustained inflows, stable derivatives conditions, and holding critical support levels.
Bullish
VanEck’s reaffirmation of a $180,000 Bitcoin price target amid a volatile pullback underscores strong institutional confidence. Historically, major buy-ins by exchange-traded products and corporate treasuries have preceded sustained rallies—as seen in late 2024 when large-scale accumulation supported a climb from $88,000 to new highs. Current derivatives data, including elevated CME basis funding rates and a high call/put ratio, signal robust speculative interest. Compressed implied volatility lowers hedging costs, encouraging bullish positions. While a $2.3 billion futures unwind indicates some profit-taking, overall open interest remains elevated, pointing to continued market engagement. The article’s focus on key support between $100,000 and $110,000 aligns with past corrective phases that proved to be buying opportunities. Short term, the news may trigger renewed long entries as traders view the dip as a repositioning. Long term, sustained institutional inflows and healthy derivatives metrics could drive Bitcoin price toward VanEck’s target. This combination of fundamentals and technical resilience supports a bullish market outlook.