VanEck reports that 8 of its 12 tracked Bitcoin capitulation indicators are currently flashing, suggesting the selloff may be entering a later stage. Bitcoin is trading around $65,000 after attempting to establish support above the June low of $58,500, as the decline enters its 10th month. Put option premiums surged 42% to $551.8 million over the past month, pushing the put-to-call premium ratio to 2.30, a level exceeding 99% of observations since 2021. Despite this market anxiety, US spot Bitcoin ETF products attracted over $1 billion in net inflows over 30 days, providing support to a market where spot trading volume fell 27%.
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