A financial analyst has identified three key bullish indicators for Bitcoin (BTC), according to a recent interview with Matthew Sigel, Head of Digital Assets at VanEck, conducted by Scott Melker.

Sigel expressed his renewed bullish sentiment, citing significant metrics observed recently. He highlighted that realized losses among short-term BTC holders surpassed 500 million, marking one of the top five occurrences in Bitcoin’s history. Additionally, he noted that BTC volatility had dropped to 21, which translates to a 30-day annualized volatility, a notably low figure.

According to Sigel, the bullish metrics for BTC include realized losses, volatility, and drawdown. Realized losses indicate the difference between the buying and selling prices of BTC holders, while volatility reflects the historical price dispersion of BTC. Drawdown measures how far BTC has declined from its peak of $73,737, recorded four months earlier.

As of the latest update, BTC is valued at $61,846.

In a separate discussion last week, Sigel speculated that Ethereum (ETH) could potentially surge by 4,225%. According to a report released by VanEck earlier this month, the base case target for Ethereum is set at $22,000, suggesting a potential increase of 518% from its current level. To reach the bull case target, Ethereum would need to appreciate by 4,225% from its current price.

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