news headline.

and

tags. We need to translate each. We'll write a translation. I'll do it step by step. First, the lead: "Vaneck's mid-August Bitcoin Chaincheck report says 8 of 12 capitulation signals are firing. The report, written by Head of Digital Assets Research Matthew Sigel and a senior investment analyst, also notes that long-term holders shed 356,000 BTC in just 30 days. The firm suggests the 11-month correction may be nearing its end." We need to translate to Bengali. Keep "Vaneck", "Bitcoin", "Chaincheck", "Matthew Sigel" as is. "capitulation signals" - we can translate as "আত্মসমর্পণ সংকেত" or "ক্যাপিটুলেশন সিগন্যাল" - but in Bengali crypto context, often English terms are used. We can say "ক্যাপিটুলেশন সিগন্যাল" or "আত্মসমর্পণের সংকেত". I'll use "ক্যাপিটুলেশন সিগন্যাল" as it's common. "long-term holders" - "দীর্ঘমেয়াদী ধারক". "shed" - "বিক্রি করেছে" or "ছেড়ে দিয়েছে". "11-month correction" - "১১ মাসের সংশোধন" or "১১ মাসের করেকশন". I'll use "সংশোধন". We'll write in natural Bengali. Let's translate the entire content. We have the original content with some expansions. The user provided the original content but it seems they expanded it. Actually the original content is the one we need to translate. They gave a long article. We need to translate exactly that article. But note that the article has some English parts that are from the expansion? Let's read the original content:

Inside the Chaincheck report

The report tracks a dozen signals that historically mark the bottom of a Bitcoin cycle. Eight are now flashing. That's up from earlier in the year, though the report doesn't specify the exact count from previous months. The most striking data point: long-term holders — wallets that haven't moved coins in at least 155 days — shed 356,000 BTC over 30 days. That's a heavy distribution phase, the kind that often shows up near a local bottom.

What Vaneck makes of it

Vaneck's analysts argue that the combination of these signals suggests the correction that started 11 months ago is close to its end. They don't call a bottom outright, but the report's language points to a shift in market structure. The sell-off from long-term holders, while large, is a classic capitulation event — the last wave of selling before a trend change.

Who wrote the report

Matthew Sigel leads digital assets research at Vaneck. He's been a frequent voice on Bitcoin's macro cycle. The senior investment analyst who co-authored the report isn't named in the release, but the team's work has been closely watched by institutional investors.

The report lands as Bitcoin trades in a tight range. Whether the correction actually ends depends on whether the remaining four signals start firing — and whether the market can hold above recent lows.