VanEck: 8 of 12 Capitulation Indicators Flashing, Bitcoin Pullback May Be Nearing Its End

Odaily News - VanEck stated that Bitcoin's nearly 11-month pullback may be nearing its end and could be entering an accumulation phase.

VanEck senior investment analyst Patrick Bush, along with digital assets research head Matthew Sigel and other researchers, noted that 8 of the 12 indicators in their "Bitcoin Capitulation Check" are currently in the capitulation zone. Over the past three months, all 12 indicators have at some point dipped into capitulation territory.

The researchers believe these readings suggest the market has already undergone a phase resembling "Bitcoin price capitulation," and may now be approaching or already entering an accumulation period.

As of Tuesday, Bitcoin was trading at approximately $64,700. Since early June, Bitcoin has largely oscillated within the $58,000 to $66,500 range, still about 48% below its all-time high of approximately $126,300 set in October 2025.

Meanwhile, U.S. spot Bitcoin ETFs just recorded their strongest single-day inflows since early May, providing some market support. However, long-term holders have sold approximately 356,000 BTC over the past month, bringing their share of total supply below 60%, indicating the market structure is still in a rebalancing phase.