VanEck Says Bitcoin's 11-Month Pullback May Be Nearing an End

VanEck said Bitcoin's nearly 11-month pullback may be nearing its end and could be entering an accumulation phase. According to Odaily, the firm's researchers said 8 of the 12 indicators in its Bitcoin Capitulation Check are in capitulation territory, and all 12 briefly fell into that zone over the past three months.The researchers said the readings suggest the market has gone through a Bitcoin price capitulation phase and may now be close to, or already in, accumulation. Bitcoin was trading at about $64,700 on Tuesday and has mostly moved between $58,000 and $66,500 since early June, still about 48% below its October 2025 record high of roughly $126,300.U.S. spot Bitcoin ETFs recorded their strongest single-day inflow since early May, providing some support to the market. At the same time, long-term holders sold about 356,000 BTC over the past month, pushing their share of circulating supply below 60% and indicating that the market structure remains in a rebalancing phase.