VanEck drops capitulation data: 8 out of 12 signals flashing red after $BTC bleeds for 11 straight months.

Long-term holders dumped 356,000 $BTC—classic panic.

But here's the twist: ETF inflows hit $300M, strongest since May. Smart money accumulating while weak hands fold.

Historical bear cycles averaged 12.7 months. We're at month 11. Accumulation zone likely Sep-Nov before the next leg.

VanEck's own warning: don't fade the data. This is textbook bottoming structure.