Bitcoin Slides 3.1% to $71,421 as Solana Extends Weekly Gain; Stablecoin Supply Diverges

Bitcoin closed Monday's session at $71,421, down 3.1% on the day, as the largest cryptocurrency gave back ground despite holding a 13.7% monthly gain. Ether traded flat near $2,006 while Solana and XRP also slipped intraday, with Solana extending its 7-day advance to 9.2%.

Market Overview

Bitcoin led Monday's downside, sliding 3.1% to close at $71,421 after a session that saw the broader crypto complex trade heavier into the New York afternoon. Ether barely budged at $2,005.64, while Solana and XRP each gave back roughly 2%. The intraday weakness in BTC contrasts with a still-firm 30-day picture — Bitcoin remains up 13.7% on the month — pointing to position-trimming inside an uptrend rather than a regime shift.

Asset Price Analysis

Bitcoin's -3.1% ↓ drop was the standout move of the session. The 7-day change sits at -0.6% ↓, meaning Monday's slide essentially erased the prior week's grind higher. BTC now faces near-term resistance back at the $73,500 handle and watch-level support near $70,000 — a round-number floor that has acted as a pivot through the May trade.

Ether was the relative anchor, ending at $2,005.64, down just -0.1% ↓ on the day but -3.7% ↓ on the week. ETH continues to hold the $2,000 handle, a level that has framed price action since mid-May. The pair's relative outperformance versus BTC on a single-day basis is consistent with ETH-specific positioning holding up while BTC sees broader profit-taking.

Solana closed at $81.08, off -1.7% ↓ intraday but still up +9.2% ↑ on the week and +15.6% ↑ over 30 days — the strongest trailing return in the majors. XRP settled at $1.30, down -2.7% ↓ on the day but holding a +8.4% ↑ monthly gain. The pattern across the four majors — BTC leading the pullback, alts holding monthly gains — is consistent with rotation rather than broad de-risking.

Stablecoin Flows

The dry-powder picture split Monday. USDC supply expanded by +$63.9M ↑ to $76.0B, while USDT supply contracted by -$240.1M ↓ to $188.0B, according to InflowScan data. The net stablecoin print of roughly -$176M is the largest single-day contraction in the aggregate over the past two weeks. Stablecoin float reductions on red days are historically associated with redemption activity rather than capital flight, but the divergence between the two majors is worth tracking into Tuesday's session.

ETF Flows Context

Issuer reports for Monday's session have not yet been published — flow data settles overnight and will appear in Tuesday's pre-market brief. The most recent settled session (Sunday, May 31) showed a modest +$4.5M ↑ net inflow concentrated entirely in XRP products, with XRPC (Canary) absorbing $2.38M and XRPZ (Franklin) taking $2.14M, according to InflowScan data. The 30-day cumulative across the spot ETF complex stands at +$1.45B ↑, providing a constructive backdrop heading into Tuesday's settled print.

Outlook

Tuesday's pre-market brief will carry Monday's settled ETF flow data — the key question is whether the price weakness translated into redemption pressure on IBIT and FBTC or whether institutional bidders absorbed the dip. Levels to watch: BTC's $70,000 handle as near-term support and the $73,500 area as the first resistance to reclaim. For ETH, the $2,000 line is the pivot. SOL's relative strength is the standout to monitor — sustained weekly outperformance in the majors has historically been associated with broader risk-on flow rotation, but a single session is not a trend.