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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
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Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Sep 19, 2025 04:18 UTC
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Crypto News Today: Bitcoin Nears $118K as VanEck Predicts More Upside Into 2026
VanEck’s Matthew Sigel sees no signs of Bitcoin overheating, with funding rates and unrealized profits staying moderate.
AI-linked mining stocks may face pullbacks, but Bitcoin’s rally could extend into 2026 if sentiment and fundamentals hold strong.
Stocks and digital assets are sitting near record levels, with the S&P 500 and gold both at all-time highs and Bitcoin approaching $118,000. Against this backdrop, Matthew Sigel, Head of Digital Assets Research and Portfolio Manager at VanEck, says the market still has room to run.
“We haven’t seen the type of euphoria that usually marks peaks,” Sigel said in a recent discussion on crypto market conditions and outlook for the rest of 2025.
No signs of overheating in Bitcoin
In an interview with Paul Barron, Sigel explained that one of the key measures his team monitors is the cost of leveraged positions in Bitcoin futures markets. High funding rates, often in the double digits, have historically signaled market tops. Right now, those levels remain moderate.
Another indicator is unrealized profits on the Bitcoin blockchain. When most holders are sitting on very large paper gains, forward returns tend to weaken. “We’re not seeing that right now,” Sigel said, hinting that Bitcoin’s rally is not yet overextended.
Miners and the AI trade
Sigel also opened up about the strong performance of Bitcoin miners in 2025. Many mining stocks have doubled or tripled this year, helped by a growing side business: renting out their power and infrastructure to AI computing.
However, he warned that the sharp gains could make miners vulnerable to a pullback. “I wouldn’t be surprised to see another deep sell-off that creates fear in the market and causes a short-term washout,” Sigel said, noting the heavy overlap between AI-linked equities and major stock indices like the S&P and Nasdaq.
What to watch into year-end
Looking ahead to the next three months, Sigel said his focus remains on market sentiment within Bitcoin. “Are people super greedy or super fearful? We’re nowhere near the greed markers,” he noted.
He added that U.S. equities, particularly the large tech names, still look fundamentally strong. High profit margins and strong balance sheets distinguish today’s market from the dot-com bubble of 2000, he said.
Could the cycle extend into 2026?
Asked whether the crypto rally could peak this year or extend into next, Sigel pointed to the traditional four-year Bitcoin cycle as still valid. He also flagged U.S. political dynamics as a factor, with midterm elections and regulatory uncertainty possibly shaping investor confidence.
“I still lean toward more tailwinds first,” he said. “We’ll let the market tell us the rest.”
Concluison
VanEck’s digital asset strategist sees more upside for Bitcoin as long as key indicators remain stable. While some corners of the market, especially miners and AI-linked equities, may be running hot, Bitcoin itself has not yet reached the conditions that usually signal a peak. For now, Sigel’s stance remains constructive heading into the final stretch of 2025.
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FAQs
Key metrics like moderate funding rates and unrealized profits suggest Bitcoin’s rally isn’t overextended, indicating more potential upside ahead despite recent gains.
Yes, the traditional four-year Bitcoin cycle and supportive factors like U.S. political dynamics could extend the rally into next year, though vigilance is key.
AI computing demand boosts Bitcoin miners via power rentals, but this link also ties miner stocks to tech equity volatility, adding a layer of market risk.
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