VanEck: 8 out of 12 capitulation indicators light up, Bitcoin pullback may be nearing its end

Comparing news, VanEck said that Bitcoin's pullback, which has continued for nearly 11 months, may be nearing its end and may enter the accumulation phase.

Researchers such as Patrick Bush, senior investment analyst at VanEck and Matthew Sigel, head of digital asset research, pointed out that 8 of the 12 indicators in its “Bitcoin Capitulation Check” are already in the capitulation range. In the past three months, all 12 indicators have once fallen into the surrender zone.

Researchers believe that these readings show that the market has gone through a phase similar to “Bitcoin price capitulation” and may currently be approaching or entering a period of accumulation.

As of Tuesday, Bitcoin was trading at around $64,700. Since the beginning of June, Bitcoin has generally fluctuated between $58,000 and $66,500, which is still about 48% below its all-time high of around $126,300 set in October 2025.

Meanwhile, the US spot Bitcoin ETF just recorded the strongest single-day capital inflow since the beginning of May, providing some support to the market. However, long-term holders sold around 356,000 BTC in the past month, reducing their share of supply holdings to less than 60%, indicating that the market structure is still in the rebalancing stage.