VanEck: 8 out of 12 capitulation indicators suggest Bitcoin's downtrend may be ending

ME News reports that on August 19 (UTC+8), VanEck stated that Bitcoin’s nearly 11-month correction may be nearing its end and could be entering an accumulation phase. Senior investment analyst Patrick Bush and digital assets research head Matthew Sigel, among other researchers, noted that 8 out of 12 indicators in their “Bitcoin Capitulation Check” are now in capitulation territory. Over the past three months, all 12 indicators had at one point fallen into capitulation territory. The researchers believe these readings suggest the market has already experienced a phase similar to “Bitcoin price capitulation” and may now be approaching or have already entered an accumulation period. As of Tuesday, Bitcoin was trading at approximately $64,700. Since early June, Bitcoin has largely traded within a range of $58,000 to $66,500, remaining about 48% below its all-time high of approximately $126,300 set in October 2025. Meanwhile, U.S. spot Bitcoin ETFs recorded their strongest single-day inflow since early May, providing some market support. However, long-term holders sold approximately 356,000 BTC over the past month, reducing their share of circulating supply below 60%, indicating the market structure is still in a rebalancing phase. (Source: ODAILY)