According to Wu Blockchain, VanEck's latest Bitcoin ChainCheck report reveals that as of August 12, 8 out of the 12 Bitcoin market capitulation signals it tracks are currently triggered, and all 12 have entered the capitulation range at some point in the past three months. VanEck believes that Bitcoin's pullback since its October 2025 peak has now entered its 10th month, and the market may be approaching or already in the accumulation phase. Based on historical cycles, the potential turning point is estimated to fall between September and November. However, historical backtesting indicates that after similar capitulation signals appear, Bitcoin does not show significant excess returns in the following 3 to 6 months, with only one-year performance surpassing the benchmark—and the sample size is limited. Over the past 30 days, BTC held for over a year has decreased by approximately 357,000 to 11.84 million, accounting for 59.1% of circulating supply. Meanwhile, U.S. spot Bitcoin ETPs saw net inflows of about $663 million, and 30-day realized volatility dropped to 27.2%. https://(wublock123.com)/news/news-66770