We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
_cfuvidThis cookie is a part of the services provided by Cloudflare - Including load-balancing, deliverance of website content and serving DNS connection for website operators.
Maximum Storage Duration: SessionType: HTTP Cookie
__cf_bm [x7]This cookie is used to distinguish between humans and bots. This is beneficial for the website, in order to make valid reports on the use of their website.
CookieConsentStores the user's cookie consent state for the current domain
Maximum Storage Duration: 1 yearType: HTTP Cookie
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
We do not use cookies of this type.
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
We do not use cookies of this type.
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
We do not use cookies of this type.
Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
List of domains your consent applies to: [#BULK_CONSENT_DOMAINS#]
Cookie declaration last updated on 8/12/26 by Cookiebot
[#IABV2_TITLE#]
[#IABV2_BODY_INTRO#]
[#IABV2_BODY_LEGITIMATE_INTEREST_INTRO#]
[#IABV2_BODY_PREFERENCE_INTRO#]
[#IABV2_BODY_PURPOSES_INTRO#]
[#IABV2_BODY_PURPOSES#]
[#IABV2_BODY_FEATURES_INTRO#]
[#IABV2_BODY_FEATURES#]
[#IABV2_BODY_PARTNERS_INTRO#]
[#IABV2_BODY_PARTNERS#]
About
Cookies are small text files that can be used by websites to make a user's experience more efficient.
The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission.
This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
You can at any time change or withdraw your consent from the Cookie Declaration on our website.
Learn more about who we are, how you can contact us and how we process personal data in our Privacy Policy.
Please state your consent ID and date when you contact us regarding your consent.
Install NewsLayer
Get the app experience — one tap from your home screen, instant loads and breaking-news alerts.
Bitcoin could be approaching the end of an almost 11-month correction and entering an accumulation phase, according to VanEck.
The asset manager's researchers, including Senior Investment Analyst Patrick Bush and Head of Digital Assets Research Matthew Sigel, found that eight of 12 signals in its "Bitcoin Capitulation Check" are currently flashing, adding that all 12 signals have dropped into their capitulation zone at some point over the past three months.
The researchers wrote that the readings suggest the market has witnessed "what appears to be bitcoin price capitulation" and is "nearing or currently in an accumulation phase."
Bitcoin (BTC) is trading around $64,700 on Tuesday and has remained range-bound between roughly $58,000 and $66,500 since the beginning of June. The top cryptocurrency remains about 48% below its all-time high of around $126,300 set in October 2025.
Bitcoin (BTC) price chart. Source: The Block/TradingView
This has also coincided with renewed demand for U.S. spot bitcoin ETFs. The funds recorded just under $300 million in net inflows on Monday, their strongest single day since May 5.
Spot Bitcoin ETF Flows. Source: SoSoValue
VanEck noted that the three previous bitcoin bear market phases have taken an average of 12.7 months from peak to max drawdown. Bitcoin is now roughly in its 11th month from its early October peak, putting a potential transition to accumulation in September through November based on historical cycles.
However, VanEck warned against treating these capitulation signals as surefire short-term signals to buy, noting that similar periods of eight to 12 indicators firing produced average 90-day and 180-day returns below the baseline.
"We expect a shallower trough this cycle," VanEck said, pointing to spot bitcoin exchange-traded products, a larger institutional holder base and the absence of widespread crypto lender and exchange failures like FTX, Celsius and Terra Luna that amplified previous downturns.
Meanwhile, the amount of bitcoin held for more than a year fell by roughly 356,000 BTC over the past 30 days to 11.84 million BTC, bringing long-term holders' share of circulating supply below 60% for the first time in months.
Bitcoin Holdings by Age Cohort. Source: VanEck
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
