Bitcoin Capitulation Signal Flashes As $12B Leaves The Network
Bitcoin is showing renewed on-chain capitulation as two indicators point to the same stress regime: Realized Cap Net Position 30D Change and adjusted SOPR. Bitcoin’s Realized Cap has fallen about $12 billion from its mid-May peak, dropping from roughly $1.087 trillion to $1.075 trillion, while the 30-day change has slipped to -1.1%, the first reading at that level since mid-March. This suggests capital is leaving the network and outflows are accelerating. At the same time, aSOPR has stayed below 1.0 for 13 straight days, with a current reading of 0.987, meaning coins are being sold at a loss rather than at a gain. The combination implies weak hands are being flushed out and sellers remain in control. A regime change would require aSOPR to reclaim 1.0 and Realized Cap outflows to stabilize near zero. BTC was trading near $61,828.
