Bitcoin Slides 1.9% to $79,705 as Crypto Majors Retreat Broadly; Prior Session's $676M ETF Inflow Fails to Cushion Friday's Selloff

Bitcoin fell 1.9% to $79,705 on Friday as crypto majors retreated in unison, with ether, solana and XRP each shedding more than 2% intraday. The pullback came a day after spot ETFs absorbed $676 million in net inflows, according to InflowScan data, pointing to a disconnect between primary-market demand and secondary-market price action.

Asset Price Analysis

Bitcoin closed Friday at $79,705, down -1.9% ↓ on the day and -0.6% ↓ on the week, though still holding a +13.7% ↑ gain over 30 days. The move was broad-based rather than isolated. Ether slid -2.2% ↓ to $2,451.92, XRP dropped -3.6% ↓ to $1.40, and solana fell -2.1% ↓ to $101.77 — though solana still leads the 7-day tape at +9.2% ↑.

The uniform direction across the four majors is the tell. When BTC, ETH, SOL and XRP all draw down together in a 2%-3% band, the move typically reflects a macro or liquidity impulse rather than asset-specific rotation. BTC failing to defend the $80,000 handle intraday is the more consequential level; it had held that zone through most of the past week.

Over a 30-day frame, the majors still sit firmly higher — BTC up 13.7%, SOL up 15.6%, XRP up 8.4%, ETH up 3.7% — so Friday's tape reads more as a give-back within an uptrend than a regime shift. Ether's relative weakness stands out: it is the only major negative on both the 7-day and daily windows.

ETF Flows Context

Issuer flow reports for Friday's session had not settled by the close. The most recent complete tape, from Thursday, September 3, showed spot crypto ETFs absorbing +$676.1M ↑ in net inflows, according to InflowScan data. That figure covered 12 of 12 BTC funds, 9 of 9 ETH funds, 11 of 11 SOL funds, and 8 of 9 XRP funds, with XRPK still settling.

The Thursday tape was concentrated. BlackRock's IBIT pulled in +$430.3M ↑ — roughly 64% of the total net figure — with Fidelity's FBTC at +$70.6M ↑ and BlackRock's ETHA at +$68.5M ↑ rounding out the leaders.

IBIT (BlackRock): +$430.3M ↑
FBTC (Fidelity): +$70.6M ↑
ETHA (BlackRock): +$68.5M ↑
HODL (VanEck): -$18.6M ↓
SOLT (Volatility Shares): -$7.2M ↓
BSOL (Bitwise): -$6.1M ↓

That prior session's bid did not carry into Friday's cash tape. The gap between Thursday's $676M net inflow and Friday's synchronized price decline across majors is consistent with primary-market demand meeting heavier spot supply — the pattern looks more like distribution into strength than a fresh leg lower, though Friday's settled flows will be the read on whether the ETF bid held through the drawdown.

Stablecoin Pulse

USDC supply expanded by +$463.9M ↑ over the past 24 hours to $74.3B, while USDT was effectively flat at $183.3B, per InflowScan data. Fresh USDC mint on a risk-off day is consistent with dry-powder build rather than deployment — sidelined capital appears to be growing, not chasing.

Outlook

The setup into Monday's session hinges on two data points. First, whether Friday's settled ETF flows — reported in Monday's pre-market — hold above zero or snap the recent inflow streak. A flip to net outflows would confirm the primary market caught up to the spot tape; a second consecutive inflow day despite the price drawdown would reinforce the distribution-into-strength read.

Second, the $80,000 zone on BTC. Friday's close below the handle puts $78,000-$79,000 in focus as the nearer support band, with the 30-day gain still intact above roughly $70,000. Ether's underperformance versus the other majors is the relative-value beat to watch — if ETH continues to lag on both up and down days, it points to positioning rotation out of ETH exposure rather than a broad-market signal.