Bitcoin's Realized Market Cap Falls $12B in 30 Days Amid Losing Trades, -1.1% Outflow Rate

According to CryptoQuant analyst Axel Adler Jr., Bitcoin's 30-day realized market cap change rate dropped to -1.1% on June 8, the first time since mid-March that capital outflows have reached this level. The realized market cap declined approximately $12 billion from a peak of $1.087 trillion in mid-May to $1.075 trillion, with the outflow rate accelerating rapidly—from -0.15% on June 1 to -1.1% by June 8.

Bitcoin's price fell 23% over the same period, dropping from $82,000 to $63,000. The 30-day average adjusted Spent Output Profit Ratio (aSOPR) has remained below 1 for 13 consecutive days since May 28, currently at 0.987, indicating that average transactions are losing approximately 1.3%. A prolonged aSOPR below 1 signals that losing trades dominate the market, with sellers maintaining control until the metric recovers to 1.