Bitcoin flashes 8 capitulation signals, but traders just spent $552 million protecting against another crash

Bitcoin is showing some of the strongest capitulation signals of the current downturn, suggesting the selloff may be entering a later stage even as the market offers little evidence of an imminent rebound.Eight of the 12 indicators tracked by VanEck are currently flashing capitulation, while all 12 reached extreme levels at some point during the past three months.The measures are designed to capture unusually severe market stress and selling pressure, conditions that have often clustered around the later stages of previous Bitcoin bear markets.Table of Bitcoin capitulation indicators showing most signals firing, including holder supply, MVRV, NUPL, drawdown, options, and mining metrics. Source: VanEckThe readings come as Bitcoin trades around $65,000 after spending recent weeks trying to establish a floor above its June low of $58,500 following a sharp decline from its October 2025 peak of over $126,000.The downturn is now entering its 10th month, bringing it closer to the duration of previous major bear markets.Excluding the unusually short 2011 decline, the past three major drawdowns averaged about 12.7 months to reach their troughs, placing October or November within the histori...