VanEck: Bitcoin may hit a new high within 12 months; central bank inclusion in reserves is becoming a major trend.

CoinFeed reported on May 10th that Matthew Sigel, Head of Digital Asset Research at VanEck, 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 5-year high, with the resilience of US stocks driving this rebound. However, the derivatives market still lacks significant optimism, with the futures and options markets reflecting more short covering and hedging demand. Therefore, from a contrarian perspective, the rally may still have room to continue. Matthew Sigel also noted that one central bank has already announced the inclusion of Bitcoin in its foreign exchange reserves this year, meaning that BTC is gradually shifting towards becoming a global asset used for large-scale cross-border transaction settlements. He believes this is a major trend.