Market Overview
Bitcoin reclaimed the $84,600 handle Thursday, closing at $84,634 after a 1.2% session gain that pulled the 30-day return to +13.7% ↑. Solana was the quiet standout: flat on the day at $118.13, but up +9.2% ↑ on the week and +15.6% ↑ on the month, outpacing every other major. Ether lagged, holding $2,698 while still carrying a 3.7% weekly drawdown.
Asset Price Analysis
BTC's intraday reclaim of $84K comes after a soft week — the 7-day print is still -0.6% ↓ — but the monthly structure remains intact. Resistance sits at the September highs; support at the $82K area that capped prior rejections now functions as the first downside level to watch.
SOL's price action is the more revealing print. A flat tape on heavy monthly outperformance is consistent with consolidation at the top of a range rather than exhaustion, particularly with issuer flows showing continued (if modest) demand for Solana ETF wrappers. XRP added 0.6% to $1.50, holding its weekly gain. ETH remains the laggard across every lookback window inside the majors.
ETF Flows (Prior Settled Session)
Thursday's issuer flows for October 1 have not yet been published; newer data is still settling. The most recent complete session is Wednesday, September 30, which saw -$133M ↓ in net outflows across spot crypto ETFs, according to InflowScan data. XRP coverage was partial — 8 of 9 funds reported, with the remaining issuer still settling.
The redemption picture was concentrated at a single fund:
Inflows were thin and skewed toward ARK's bitcoin product and Solana wrappers:
FBTC's $125M redemption accounts for essentially the entire net outflow figure. With IBIT only lightly redeemed and ARKB taking in $33M, the pattern is consistent with issuer-level rotation rather than broad-based BTC exposure reduction, per InflowScan data.
Stablecoin Flows
USDT supply added +$44.5M ↑ on the day to $183.8B, while USDC drew down -$404.7M ↓ to $74.2B, according to InflowScan data. The USDC redemption is the larger signal — a $400M-plus daily contraction is consistent with on-chain capital being deployed or moved off-venue, not sidelined.
Outlook
Levels to watch into Friday: BTC resistance at the recent $85-86K band, support at $82K; ETH's $2,700 handle, where it continues to churn; SOL's $120 cap after a flat session on strong monthly momentum. Thursday's settled ETF flows publish overnight — the key data point is whether FBTC's $125M exit was a one-session event or the start of a Fidelity-specific redemption streak. The IBIT print will also matter: a return to inflows there would weaken the broader risk-off read of Wednesday's tape.