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According to CoinDesk, the latest report from asset management company VanEck shows that Bitcoin has currently triggered 8 out of 12 market capitulation indicators, indicating that the market is approaching the historical bear market bottom area, but the related signals do not mean that the price has bottomed out. These indicators mainly measure the market status of Bitcoin during extreme sell-off phases, including the extent of price retracement from highs, miner profitability, and the proportion of holders at a loss. Over the past three months, all 12 indicators have reached the triggering range.VanEck pointed out that Bitcoin's previous rounds of major bottoms experienced maximum declines of approximately 94%, 85%, 84%, and 78%, during which the market lacked support from spot ETF funds, institutional holdings were relatively small, and there were impacts from major industry events such as Celsius and FTX. In contrast, the market structure has changed this time. From a cyclical perspective, VanEck has compiled 4 complete Bitcoin cycles since 2011 and found that bear markets typically last about 11 months on average from peak to trough; if excluding the special cycle of 2011, the average is about 12.7 months. Currently, Bitcoin has entered the 10th month since its peak in October 2025, and the next potential accumulation window may appear between September and November of this year.VanEck concluded that the current capitulation indicators are more suitable as tools for long-term investors to assess the cycle position rather than short-term bottom-fishing signals. Historical data shows that the advantages of investing based on these indicators are mainly reflected within a one-year cycle, and the market may continue to fluctuate in the coming months.

Matthew Sigel, the Head of Digital Asset Research at VanEck, stated that if the U.S. CLARITY Act is passed, it will trigger "an enormous relief rally" in L1 tokens.Sigel's remarks focus on the potential impact of regulatory progress on native assets of public chains. The CLARITY Act aims to provide a clearer regulatory framework for digital assets, and the market generally views it as one of the important legislative variables affecting the risk appetite for crypto assets.

According to Cointelegraph, asset management company VanEck stated that Bitcoin is approaching the cycle bottom, which may mean that investors should start to gradually rebuild their positions.

Bitcoin Treasuries.NET posted on platform X that VanEck's Preferred Securities ex-Financials ETF PFXF, managing $237 billion in assets, has increased its holdings in Strategy Stretch STRC to 2.42 million shares, valued at $209 million, accounting for over 8.75% of the ETF's net assets, which belong to digital credit assets.

According to SoSoValue data, yesterday (Eastern Time July 10) the total net inflow of Bitcoin spot ETFs was $90.44 million.The Bitcoin spot ETF with the highest single-day net inflow yesterday was Blackrock ETF IBIT, with a single-day net inflow of $86.82 million. Currently, the historical total net inflow of IBIT has reached $60.286 billion.Next was VanEck ETF HODL, with a single-day net inflow of $3.6128 million. Currently, the historical total net inflow of HODL has reached $1.136 billion.As of the time of writing, the total net asset value of Bitcoin spot ETFs is $77.422 billion, and the ETF net asset ratio (market value compared to the total market value of Bitcoin) is 6.05%. The historical cumulative net inflow has reached $51.277 billion.

According to SoSoValue data, the total net outflow of Bitcoin spot ETFs is $95.3017 million. The Bitcoin spot ETF with the highest single-day net inflow yesterday was the VanEck ETF HODL, with a single-day net inflow of $5.3617 million, and the historical total net inflow of HODL has reached $1.133 billion. The second highest was the Morgan Stanley ETF MSBT, with a single-day net inflow of $2.1737 million, and the historical total net inflow of MSBT has reached $377 million.The Bitcoin spot ETF with the highest single-day net outflow yesterday was the Fidelity ETF FBTC, with a single-day net outflow of $63.2516 million, and the historical total net inflow of FBTC has reached $10.151 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $76.506 billion, and the ETF net asset ratio (market value as a percentage of Bitcoin's total market value) is 6.03%, with a historical cumulative net inflow of $51.186 billion.

VanEck's Head of Digital Assets Research, Matthew Sigel, posted on the X platform that according to the latest 8-K filing submitted by Strategy, the $135 million Bitcoin sale by Strategy last week did not utilize the $1.25 billion BTC Monetization Program limit.This is because the program only restricts sales used to supplement cash reserves, and sales directly used to pay dividends are not included in this limit. Sigel pointed out that this means Strategy's actual Bitcoin selling capacity exceeds the commonly understood $1.25 billion.

According to official news, the prediction market index provider Adjacent announced the completion of a $2.5 million Pre-Seed round of financing, with investors including Night Capital, VanEck, UFO Holdings, Maven11, and DCG.Adjacent is an independent third-party event contract and prediction market index provider, and this week it launched the U.S. election index series RED and BLUE. Adjacent stated that it is rapidly expanding its index products to cover global elections, finance, economics, and other fields.

According to CoinDesk, VanEck released a report stating that Bitcoin mining companies face a short-term funding gap of about $50 billion as they transition to AI infrastructure, with long-term capital needs of approximately $221 billion. Analysts indicate that the market focus is shifting from contract signing to execution risk, as the industry has only delivered about 25% of the leased AI and high-performance computing capacity, and companies that miss construction milestones face "structural downgrades" from investors.Bitcoin mining companies are turning to AI infrastructure due to declining mining profitability, with Core Scientific signing multi-billion dollar hosting agreements with CoreWeave, and companies like TeraWulf, Hut 8, Iren, and Cipher also announcing AI and high-performance computing plans. VanEck points out that the clearest valuation metric currently is the available operational power infrastructure, with companies that have signed AI leases valued at more than 10 times their operational power. The report suggests that HIV E, Bitdeer, Keel, and IREN have potential upside, while MARA, CLSK, and RIOT remain more closely tied to Bitcoin prices.

According to SoSoValue data, yesterday (Eastern Time June 5), the total net outflow of Bitcoin spot ETFs was $326 million.The Bitcoin spot ETF with the highest net inflow yesterday was the Morgan Stanley ETF MSBT, with a net inflow of $4.2773 million for the day, and the historical total net inflow of MSBT has reached $268 million.Next was the VanEck ETF HODL, with a net inflow of $4.2190 million for the day, and the historical total net inflow of HODL has reached $1.151 billion.The Bitcoin spot ETF with the highest net outflow yesterday was the Blackrock ETF IBIT, with a net outflow of $214 million for the day, and the historical total net inflow of IBIT has reached $62.47 billion.As of the time of publication, the total net asset value of Bitcoin spot ETFs is $75.115 billion, with an ETF net asset ratio (market value compared to total Bitcoin market value) of 6.08%, and the historical cumulative net inflow has reached $53.94 billion.

According to The Block, asset management company VanEck officially launched the VanEck BNB ETF (ticker: VBNB) on Thursday, becoming the first exchange-traded product in the United States to offer spot exposure to BNB. VBNB is backed by physical BNB held in a cold wallet at Anchorage Digital Bank, with a management fee of 0.39%, and currently does not support staking functionality.

The tokenized U.S. Treasury fund VBILL under VanEck has officially launched on the DeFi lending protocol Euler. The fund is issued and tokenized by Securitize, allowing investors to use tokenized U.S. Treasuries as collateral for on-chain lending and liquidity operations, while also meeting compliance requirements. This move reflects that DeFi protocols are accelerating their transformation towards institutionalization and compliance to attract traditional financial capital into the on-chain market.Data shows that the scale of tokenized U.S. Treasuries has surpassed $15 billion, growing approximately 150% over the past year. Traditional asset management giants such as BlackRock, Franklin Templeton, and Janus Henderson have all launched on-chain Treasury or money market products. Euler has previously integrated Securitize's DS Protocol to support the access of tokenized securities with investor qualification restrictions and transfer rules to the lending market. DeFi protocols like Aave are also laying out institutional-level RWA business. Institutions expect that the asset tokenization market could reach $18.9 trillion by 2033. Securitize executives stated that as traditional financial institutions enter the crypto space, DeFi protocols must find a balance between openness and compliance requirements.

According to Cointelegraph, VanEck CEO Jan Van Eck stated that he remains optimistic about Bitcoin in the long term, but warned that 2026 is historically a down year in the four-year halving cycle. He noted that institutional adoption has fundamentally remained unchanged, lacking catalysts for significant price increases.

VanEck analyst Matthew Sigel, whose managed assets total $200 billion, stated that the digital credit market could expand to $2.5 trillion in the next decade, while the price of BTC is expected to reach $1 million. Matthew Sigel noted that this goal is "absolutely within reach."

According to The Block, VanEck submitted its fifth amendment to the registration statement for its BNB ETF to the U.S. Securities and Exchange Commission on Friday (May 15), while Grayscale also submitted its second amendment to the Grayscale BNB ETF prospectus on the same day.Bloomberg ETF analyst James Seyffart stated that the simultaneous actions by both parties indicate that the issuers are responding to feedback from the U.S. SEC and may be planning to launch soon. James Seyffart speculated that BNB could be the next cryptocurrency asset to pass SEC review and is expected to be listed in the U.S.Meanwhile, Canary Capital separately submitted an amendment to its staking TRX ETF proposal, which will package Tron’s staking yields into a regulated framework.

Matthew Sigel, the head of digital asset research at VanEck, stated in an interview with CNBC that he expects Bitcoin to reach its historical high again within the next 12 months. He pointed out that the current correlation between BTC and the Nasdaq is close to a five-year high, and the resilience of the U.S. stock market has driven this round of rebound. However, the derivatives market still lacks significant optimism, with the futures and options markets reflecting more short covering and hedging demand. Therefore, from a contrarian perspective, there may still be room for the market to continue.Matthew Sigel also mentioned that this year, a central bank has announced it will include Bitcoin in its foreign exchange reserves, which means BTC is gradually turning into a global asset used for large cross-border transaction settlements. He believes this is a major trend. In terms of investment direction, he is more optimistic about the increase in Bitcoin's market share and Bitcoin mining companies benefiting from the trend of AI integration. He stated that mining companies are becoming important beneficiaries of AI infrastructure, and as AI business grows, the pressure on mining companies to sell BTC for fundraising is decreasing. Additionally, Matthew Sigel believes that if the CLARITY Act is passed, it could reignite sentiment in the altcoin market, but currently, institutional investors remain cautious about most altcoins due to regulatory and investor protection issues.

Matthew Sigel, head of digital asset research at VanEck, stated that the price of Bitcoin is expected to reach $1 million in the next 5 years.He likened the adoption path of Bitcoin to video games: gradually moving from early niche groups to widespread popularity, especially optimistic about the continued increase in allocation by young investors. However, this prediction is still considered aggressive compared to the current price of about $80,000, and similar optimistic views in the market also largely come from institutions with holdings.

VanEck analysts Matthew Sigel and Patrick Bush wrote an analysis stating that Bitcoin has shown two historically bullish signals: negative funding rates and a decline in hash rate concentration, while volatility has cooled down.As tensions between the U.S. and Iran eased, Bitcoin's realized volatility dropped from 56% to 41%, while the 7-day average funding rate turned negative to -1.8%, marking the lowest level since 2023.Historically, negative funding rates typically indicate strong future returns: since 2020, the average 30-day return for Bitcoin during periods of negative funding rates has been +11.5%, compared to an overall return of +4.5%, with a hit rate as high as 77%. Funding rates below -5% have brought a +19.4% return over a 30-day period.Additionally, hash rate has fallen to the 16th percentile in the past 30 days, marking the most concentrated decline since the mining ban in 2021. In the last 7 instances of hash rate decline, Bitcoin's price increased 6 times after 90 days, with a median increase of +37.7%.