VanEck: Maintains Year-End BTC Target Price at $180,000
According to ChainCatcher, VanEck has released an analysis report stating that Bitcoin experienced key developments from mid-July to mid-August: its price rebounded to an all-time high of $124,000, and the Chicago Mercantile Exchange (CME) basis reached a new annual high. VanEck maintains its year-end price target for Bitcoin at $180,000.
In the mining sector, although mining company APLD's stock price rose, most mining firms underperformed. Notably, the share of global hash rate held by U.S. mining companies has reached a new high of 31.5%.
The report also points out that due to low volatility, the modified net asset value (mNAV) of Digital Asset Treasuries (DATs) has declined, which has dampened financing and growth.
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