Crypto Majors Rally Broadly Thursday; ETH Leads With 5.9% Gain as Risk Appetite Returns

Bitcoin closed Thursday at $61,574, up 2.6% on the session, as the crypto complex staged a broad rally led by ether's 5.9% advance to $1,704. Solana climbed 4.6% to $81.02 and XRP added 2.9% to $1.08, with the coordinated move suggesting a return of risk appetite following Wednesday's ETF redemptions.

Market Overview

Risk assets across the crypto complex moved higher Thursday in a session marked by ether's outperformance and broad-based gains. Bitcoin reclaimed the $61,500 handle, ether pushed back above $1,700, and every major traded green. The rally comes one session after spot ETFs logged a combined $254.7M in net outflows, a divergence that points to spot demand absorbing the prior day's redemption pressure rather than tracking it.

Asset Price Analysis

Bitcoin settled at $61,574, a +2.6% ↑ daily gain that trimmed the seven-day loss to just -0.6% ↓. The 30-day picture remains constructive at +13.7% ↑, with BTC now consolidating in the mid-$61,000s after failing to hold the $62,000 handle earlier in the week. Resistance sits at the recent $63,000 area; support has held around $60,000 through the past week's chop.

Ether was the session standout, adding +5.9% ↑ to close at $1,704.54. The move reclaimed the $1,700 level after Wednesday's dip and cut the seven-day decline to -3.7% ↓. ETH's outperformance versus bitcoin on the day is consistent with a beta-catch-up move rather than a structural rotation — the 30-day gain sits at +3.7% ↑, still trailing BTC's monthly return.

Solana closed at $81.02, up +4.6% ↑ on the day and +9.2% ↑ on the week — the strongest seven-day return in the majors. SOL's 30-day gain of +15.6% ↑ now leads the complex. XRP added +2.9% ↑ to $1.08, extending its weekly advance to +1.7% ↑.

ETF Flows (Prior Settled Session)

Issuer flow data for Thursday's session has not yet settled and will be reported in Friday's pre-market brief. The most recent settled figures, from Wednesday, July 1, showed -$254.7M ↓ in aggregate net outflows across spot BTC, ETH, SOL, and XRP products, according to InflowScan data. The redemption pressure was concentrated in bitcoin funds.

Top outflows: IBIT (BlackRock) -$213.8M ↓, GBTC (Grayscale) -$61.5M ↓, FBTC (Fidelity) -$49.7M ↓
Top inflows: ETHA (BlackRock) +$35.7M ↑, BTC (Grayscale mini) +$35.6M ↑, MSBT (Morgan Stanley) +$29.8M ↑

XRP fund reporting was partial for the session (8 of 9 issuers filed; XRPK still settling), so the XRP aggregate should be read as provisional. Thursday's price action ran counter to the direction of Wednesday's flow tape, a pattern historically associated with sentiment shifts that predate settled ETF prints.

Stablecoin Flows

Stablecoin supply drifted lower on the day, according to InflowScan data. USDT supply contracted by -$300M ↓ to $184.1B and USDC fell -$115M ↓ to $73.3B. The modest contraction alongside a broad-based price rally suggests sidelined capital was deployed into risk assets rather than parked, though the moves are small relative to aggregate supply.

Outlook

Friday's pre-market brief will carry the first settled read on Thursday's ETF tape. Given the divergence between Wednesday's -$254.7M ↓ print and Thursday's cross-asset rally, the settled data will indicate whether spot demand followed price higher or whether the flow deficit extended a second session. Key levels to watch: BTC resistance at $63,000 and support at $60,000; ETH's ability to hold the reclaimed $1,700 handle; SOL's continuation above $80. XRP fund reporting completion (pending XRPK) will also finalize the Wednesday aggregate.