VanEck Bullish on Bitcoin: Derivatives Market Sending 'Reverse Long Signal'

BlockBeats News, April 4th, VanEck's Director of Digital Asset Research, Matthew Sigel, stated that the current Bitcoin derivatives market has issued a clear "reverse long signal," with the company's overall stance shifting to be more optimistic.

Sigel pointed out that the protective demand for bearish put options in the current market has risen to a historical about 99th percentile level, with investors paying a significant premium for hedging. Historically, this usually indicates that the market is approaching a cyclical bottom, serving as a typical reverse long signal.

He also noted that early holders (3–5 years ago) have been realizing concentrated profits from Q4 2025 to Q1 2026, but recent selling pressure has significantly eased, helping the market stabilize.

Strategically, VanEck's NODE Fund tends to outperform BTC itself with lower volatility by allocating to Bitcoin mining companies and AI infrastructure-related assets. Additionally, out of caution regarding leverage risk, the team maintains a low allocation to high-leverage assets like Coinbase and MicroStrategy.

Furthermore, Sigel believes that the valuation reassessment space brought by mining companies transitioning to AI data centers is expanding, and the current pullback of mining company stock prices from their highs by about 40% may offer new allocation opportunities.

On the risk side, he warns that if the U.S. stock market's "Tech Big Seven" fail to deliver AI's substantial capital expenditure returns, it could create systemic pressure on the S&P 500, thereby affecting the performance of risk assets, including the crypto market.