PANews reported on June 10th that CryptoQuant analyst Axel Adler Jr. stated that Bitcoin's realized market capitalization 30-day change rate has fallen to -1.1%, marking the first time capital outflows have reached this level since mid-March. From its peak of approximately $1.087 trillion in mid-May, realized market capitalization has decreased by about $12 billion to $1.075 trillion. The contraction has accelerated significantly: the indicator was -0.15% on June 1st, falling to -1.1% by June 8th. During the same period, the price of BTC fell from $82,000 to $63,000, a drop of 23%. The current outflow rate is comparable to that at the start of the capitulation in March, when the indicator reached -2.4%, suggesting further room for deterioration.

The 30-day moving average of aSOPR has remained below 1 for 13 consecutive days since falling below 1.0 on May 28th, currently standing at 0.987, implying an average loss of approximately 1.3% per trade. A prolonged period of aSOPR below 1 is a classic sign of weak market sentiment being shaken out, with sellers still dominating until it recovers to 1.0. The combination of these two indicators defines a capitulation phase: capital outflows from the network, driven by loss-making selling.