Bitcoin posted a modest recovery on Wednesday, climbing above $64,000, but remains almost 50% down from its all-time high. According to VanEck’s analysis, 8 of 12 signals in its capitulation indicator are now firing, suggesting the market may be nearing the end of its correction phase. U.S. spot Bitcoin ETFs have recorded more than $950 million in net inflows in August, pointing to renewed institutional demand. Previous Bitcoin bottoms saw drawdowns of 94%, 85%, 84%, and 78%, but VanEck expects a shallower trough this cycle, especially given that no major collapses like Celsius, Three Arrows Capital, or FTX have occurred this time.
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