VanEck Executive: Bitcoin is expected to return to its all-time high within the next 12 months

Mars Finance News, May 10 — VanEck Digital Asset Research Director Matthew Sigel stated in an interview with CNBC that he expects Bitcoin to retest its all-time high within the next 12 months. He pointed out that the current correlation between BTC and the Nasdaq is near a five-year high, with the resilience of the US stock market driving this rebound, but the derivatives market still lacks obvious bullish sentiment. Futures and options markets mainly reflect short covering and hedging demand, so from a contrarian perspective, there may still be room for the trend to continue. Matthew Sigel also mentioned that this year, one central bank has announced the inclusion of Bitcoin in its foreign exchange reserves, which means BTC is gradually shifting toward becoming a global asset used for large cross-border transaction settlements. He believes this is a major trend. Regarding investment directions, he expressed a preference for Bitcoin’s market share growth and Bitcoin mining companies benefiting from the AI integration trend. He stated that mining companies are becoming important beneficiaries of AI infrastructure, and as AI business grows, the pressure on mining companies to sell BTC for funding is decreasing. Additionally, Matthew Sigel believes that if the CLARITY Act passes, it could reignite market sentiment for altcoins, but currently institutional investors remain cautious about most altcoins due to regulatory and investor protection concerns.