One financial analyst says Bitcoin (BTC) is showing three important bullish metrics.

In a new interview with Scott Melker, VanEck Head of Digital Assets Matthew Sigel says recent indicators are making him bullish on BTC.

“I got renewed bullish on Tuesday just you know noticed some capitulation indicators in the space like realized losses by short-term holders for example over 500 million like that’s a top five print of all time for Bitcoin. And then I saw BTC volatility hit 21 that’s a 30-day annualized VA that is also a very low number…”

According to Sigel, the metrics that he sees flashing bullish for BTC are realized losses, volatility, and drawdown.

The realized losses metric is the difference between the buying and selling prices of BTC holders. The volatility refers to how prices are scattered historically for BTC. Drawdown refers to how far down BTC is from its peak of $73,737, reached four months ago.

BTC is worth $61,846 at time of writing.

Last week, Sigel also suggested that Ethereum (ETH) could explode by 4,225%.

In the report released earlier this month, VanEck set a base case target for Ethereum of $22,000, a potential gain of 518% from the current level. To hit the bull case target, Ethereum would have to appreciate by 4,225% from the current price.

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A newly filed Exchange-traded Fund (ETF) aims to bring the duo of Bitcoin (BTC) and Gold together as a single product.

100% Leveraged Bitcoin And Gold ETF 

Henry Jim, the popular analyst of ETF Hearsay shared the news of a stacked Bitcoin and gold ETF on X. According to the description of the proposed offering which was submitted to the United States Securities and Exchange Commission (SEC), it uses leverage to simultaneously provide 100% exposure to BTC and gold.

New stacked Bitcoin and gold ETF filed

STKD Bitcoin & Gold ETF
ticker and fees tba
effective date: Sep 9, 2024

Using leverage, provides simultaneously exposure to performance of #Bitcoin and gold via bitcoin futures and ETFs, and gold futures and ETFs.

Investment Sub-Adviser… pic.twitter.com/9GyOYuwqKv

— ETF Hearsay by Henry Jim (@ETFhearsay) June 27, 2024

It is designed to achieve this through Bitcoin futures and ETFs as well as Gold futures and ETFs. This would be the first of its kind for such ETF products. Notably, the sub-adviser for the proposed offering is Quantify Chaos.

The STKD Bitcoin & Gold ETF, as it was named in the filing, is designed for long-term capital appreciation. As a newly organized offering, the portfolio turnover information is currently unavailable.

Speaking of the STKD Bitcoin and gold ETF, the filing system noted that “the Fund uses leverage to ‘stack’ the total return of holdings in the Fund’s Bitcoin strategy together with the total returns of holdings in the Fund’s Gold strategy.”

Mitigating Short-term Market Fluctuation Impact 

Based on its design, every  investment is designed to follow and potentially profit or lose from two different investment strategies.

Noteworthy, the decision to launch this product and adopt the STKD’s investment strategy is based on the belief that the combination of Bitcoin strategy and Gold strategy investments could offer complementary benefits. This theory was promulgated after considering both assets’ historically low correlation. It is worth noting that their historical price movements have not been closely related.

Ultimately, the product is just focused on mitigating the impact of short-term market fluctuation on the overall investment outcome by combining assets with low correlation. In the long run, this will potentially contribute to the prevalence of a more stable investment trajectory.

On its own, spot Bitcoin ETFs are doing well, grabbing a significant share of the broader ETF market. On Wednesday, the Bitcoin ETF market saw positive inflow which came to a total of over $21 million. This influx was led by Fidelity while BlackRock remained stagnant, recording zero inflows. On the other hand, Grayscale’s GBTC grabbed the eyeballs with its positive flows after an outflow streak.

Read More: Wall Street Embraces Altcoins with New Solana ETF: Pompliano

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.