Bitcoin Drifts Lower to $64,463 as Solana Extends Weekly Advance; Stablecoin Supply Splits

Bitcoin closed Thursday at $64,463, down 0.3% on the day but holding a 13.7% monthly gain, as Ethereum trod water near $1,908 and Solana extended its weekly advance to 9.2%. The muted price action across majors, paired with a widening split in stablecoin supply, suggests positioning rather than directional conviction heading into Friday's session.

Market Overview

Majors closed Thursday with little conviction. Bitcoin drifted 0.3% lower to $64,463, capped below the $65,000 handle it briefly reclaimed earlier in the week. Ethereum finished flat at $1,907.99. Solana was the session's laggard on the day, off 1.5% to $72.92, though it retains a 9.2% weekly gain — the strongest among the top four. XRP slipped 2.7% to $1.03.

The 30-day scorecard tells a different story than the tape: BTC is up 13.7%, SOL up 15.6%, XRP up 8.4%, ETH up 3.7%. Thursday's action reads as a pause inside that broader move rather than a change in trend.

Asset Price Analysis

Bitcoin's 24-hour range stayed tight, with the tape rangebound between the low $64,000s and mid-$65,000s. The failure to hold above $65,000 for a second consecutive session points to sellers active on strength; that said, the 30-day uptrend remains intact and the $63,500 area continues to act as near-term support.

Ethereum's zero-change close masks a weaker week — down 3.7% over seven days, the softest showing among the majors. ETH/BTC continues to leak, a pattern more consistent with rotation than fresh capital entering ether at these levels.

Solana's intraday pullback trimmed a stronger weekly print but the $72 handle held. The 15.6% monthly gain leads the group. XRP, off 2.7% on the session, gave back much of its weekly outperformance and is back testing the $1.00 psychological level.

Prior Session ETF Context

Thursday's issuer flow reports have not yet settled. Wednesday's session, the most recent settled tape, showed spot crypto ETFs absorbing +$305.3M ↑ in net inflows according to InflowScan data, with BlackRock's IBIT alone taking in +$195.1M. Fund coverage for XRP products was partial — 8 of 9 funds reported, with XRPK still settling — so the XRP aggregate is not final.

IBIT (BlackRock): +$195.1M ↑
ETHA (BlackRock): +$49.3M ↑
ARKB (ARK Invest): +$37.3M ↑
HODL (VanEck): -$14.5M ↓

Concentration in IBIT accounted for roughly 64% of the day's net take. That mix — one megafund pulling the aggregate positive while a mid-tier product bleeds — is consistent with allocator rebalancing rather than a broad retail bid. Thursday's own flow data will settle overnight and appear in Friday's pre-market brief.

Stablecoin Flows

The stablecoin picture split cleanly. USDT supply expanded by +$444M ↑ over the last 24 hours to $183.5B, while USDC supply contracted by -$426M ↓ to $71.8B, according to InflowScan data. The near-mirror move nets to less than $20M in aggregate change but points to venue-level rotation — USDT's offshore-perp footprint versus USDC's regulated-desk footprint — rather than fresh dry powder entering or leaving crypto broadly.

Outlook

Friday's tape has a few specific data points to watch. First, Thursday's ETF flow data settles overnight; whether IBIT's Wednesday concentration extended for a second session, or whether HODL's outflows broadened to other mid-tier BTC products, will frame the week's finish.

Second, price levels: BTC's $65,000 ceiling and $63,500 floor have contained the last several sessions, and a decisive close outside that band is the tell on whether the 30-day uptrend resumes or consolidates further. ETH holding $1,900 is the same question in miniature — a break below opens the door to retesting $1,850.

Third, watch the USDT/USDC split. A second day of the same divergence would strengthen the venue-rotation read; a reversal would suggest Thursday's move was a one-off settlement quirk rather than a positioning shift.