Net capital OUTFLOW of $38B from $BTC in 2026?

That's not a typo. Realized cap data showing negative inflows means more coins moved at a loss or old hands distributed into strength.

Either we're in a distribution phase or smart money rotated into alts/stables. Watch on-chain closely — if this continues while price holds, it's actually bullish (weak hands out).

If price dumps with it? Different story.