According to CoinMeta, as reported by The Block, the research team at VanEck indicates that 8 out of the 12 market surrender indicators they track have already turned red. Bitcoin has been fluctuating in the range of $58,000 to $66,500 since June and is currently around $64,700, which is about 48% lower than its historical high in October 2025. American spot Bitcoin ETF recorded nearly $300 million in net inflows on Monday, marking the strongest single-day performance since May 5th. VanEck notes that the previous three bear market cycles of Bitcoin took an average of 12.7 months from their peaks to their maximum drawdowns, and since we are now in the 11th month of such a cycle, the market may enter a phase of accumulation between September and November.