VanEck: Bitcoin triggers 8 bottom signals, and a rebound may take months

VanEck stated that bitcoin had triggered 8 of its 12 capitulation signals, and that the current price was 49 per cent lower than its peak. Nevertheless, historical data show that there was no significant return advantage in six months. VanEck states that the current signal indicates that Bitcoin is in a period of market pressure, but its response does not support the expectation of a rapid rebound. The company also disclosed that indicators such as the financial position of miners and the proportion of Bitcoin holders holding unrealized losses were also being monitored. VanEck predicts that the current downward cycle may end earlier than before, as there are more U.S. spot ETF and institutional holders in the market。