Crypto Market Loses $1.11 Trillion as Stablecoin Outflows Deepen

The crypto market has entered one of its most bearish stretches, with Bitcoin and several altcoins bearing the brunt as capital continues to drain.

Since January's peak, the total market capitalization, excluding stablecoins, has bled a massive $1.11 trillion.

CryptoQuant's stablecoin exchange reserve data shows sustained outflows across most of the year, pushing the reserve into negative territory for the first time in recent years.

The past 30 days saw Binance and Bybit record $2.3 billion in stablecoin withdrawals, suggesting investors have not entered an accumulation phase.