Asset Price Analysis
Bitcoin closed Thursday's session at $75,775, flat on the day but down -3.2% ↓ over the past week. The largest digital asset has held the $75,000 handle through a week marked by stalling momentum, with the 30-day return now narrowed to +1.2% ↑. Resistance sits near the $78,000 area where price last failed to extend in mid-April; support at $74,500 has been tested but not breached.
Ether closed at $2,253.65, also flat intraday but down -3.3% ↓ on the week and -4.1% ↓ over 30 days. ETH has underperformed BTC across both windows, a divergence consistent with the heavier ETF redemptions seen in ether-linked products this week.
The broader majors fared worse. Solana settled at $83.03, off -3.6% ↓ on the week and -13.7% ↓ over 30 days. XRP closed at $1.37, down -4.8% ↓ on the week and -11.3% ↓ over 30 days, the weakest 30-day reading among the four. The pattern — BTC holding while higher-beta assets bleed — points to defensive positioning rather than broad capitulation.
Stablecoin Flows
USDT supply contracted by -$1.62B ↓ over the past 24 hours to $188.0B, while USDC supply shed -$299.6M ↓ to $77.3B. The combined ~$1.9 billion redemption is the most pronounced single-day stablecoin contraction of the month and suggests capital is leaving the crypto ecosystem rather than rotating to the sidelines. When stablecoin supply contracts alongside flat-to-negative price action, it typically signals reduced near-term buying capacity.
ETF Flow Context
Issuer reports for Thursday's session have not yet settled and will be reflected in Friday's pre-market brief. The most recent settled session, Wednesday, April 29, recorded -$199.9M ↓ in net outflows across spot crypto ETFs, according to InflowScan data.
The 7-day cumulative figure stands at -$87.9M ↓, a marked deceleration from the 30-day cumulative of +$2.30B ↑. The bid that carried bitcoin through April appears to have faded as month-end approached, with ether-linked products bearing a disproportionate share of the redemptions.
Outlook
Friday's pre-market brief will report Thursday's settled ETF flows — the key question is whether issuer redemptions extended through the session or whether the flat tape masked stabilizing demand. Levels to watch: BTC support at $74,500 and resistance at $78,000; ETH defending the $2,250 handle, with a break below opening risk toward $2,180. The continued contraction in stablecoin supply is the data point worth tracking — a second consecutive day of $1B+ redemptions would signal the broad-based deleveraging is broadening rather than isolated. Month-end rebalancing flows could distort Friday's tape.