Bitcoin Slides Below $77K as Majors Retreat; USDT Supply Expands by $1.6 Billion

Bitcoin fell 1.9% to $76,870 on Monday as the broader crypto complex retreated, with Solana leading declines down 2.4% and Ethereum easing 0.7% to $2,259. USDT supply expanded by $1.6 billion over the past 24 hours, pointing to fresh stablecoin issuance even as spot majors sold off.

Market Overview

Bitcoin closed Monday's session at $76,870, down -1.9% ↓ on the day and giving back part of a 30-day advance that still stands at +13.7%. Solana was the weakest major, slipping -2.4% ↓ to $92.33 despite holding a +9.2% weekly gain. XRP bucked the move, edging +0.2% ↑ higher to $1.25.

Asset Price Analysis

The session was a broad fade across higher-beta names with XRP as the lone holdout. Bitcoin lost the $78,000 handle intraday and settled near $76,870, keeping it rangebound between recent support in the mid-$76,000s and resistance that has capped bounces near $80,000. The one-week change of -0.6% ↓ masks a sharper intraday reversal; the 30-day picture at +13.7% ↑ remains intact.

Ethereum traded down to $2,259, extending a weekly slide to -3.7% ↓ and underperforming bitcoin on both the 7-day and 30-day windows. ETH's relative weakness has been the cleaner tell of the past week, with the ETH/BTC ratio drifting lower as majors reprice.

Solana's -2.4% ↓ close to $92.33 was the sharpest major move, though the token still carries a +15.6% ↑ 30-day gain — the strongest of the four names InflowScan tracks. The pullback looks more consistent with position-trimming after a strong October than with a broader rotation out of the name. XRP's flat-to-higher close, meanwhile, continues a pattern of lower correlation to bitcoin on down days.

Stablecoin Flows

USDT supply expanded by +$1.6B ↑ over the past 24 hours to $181.1B, according to InflowScan data. USDC moved the other way, contracting by -$556M ↓ to $71.3B. The net stablecoin pulse is positive — fresh USDT issuance on a day when majors sold off is more consistent with capital staging on the sidelines than with risk-off redemption.

ETF Flows Context

Issuer reports for Monday's session have not yet settled; the most recent fully-reported day is Friday, October 30, which registered -$648.9M ↓ in net outflows across spot BTC, ETH, SOL and XRP products, according to InflowScan data. BTC and ETH coverage was complete at 12/12 and 9/9 funds; SOL (7/11) and XRP (2/9) remain partial, with the remaining issuers still settling.

Friday's leaderboard was dominated by concentrated redemptions. BlackRock's IBIT saw -$246.8M ↓, Fidelity's FBTC saw -$212.4M ↓, and BlackRock's ETHA logged -$80.1M ↓. The only inflows of note were small: Bitwise's BITB at +$8.8M ↑, Franklin's XRPZ at +$5.6M ↑, and Fidelity's FETH at +$2.9M ↑. The IBIT/FBTC concentration — nearly $460M between two funds — is the detail to carry into tomorrow's settled print; today's price action suggests the redemption pattern may not have abated.

Outlook

Monday's settled ETF flows publish overnight and will be the first read on whether Friday's $649M exit was a one-session event or the start of a sustained redemption streak. For bitcoin, the $76,000 area is the near-term floor to watch; a hold there keeps the 30-day uptrend technically intact. For ethereum, the $2,250 handle has been the pivot — losing it opens the door to a retest of lower support. Stablecoin issuance also bears watching: if USDT supply continues to expand while ETF flows stay negative, the divergence is historically associated with capital rotation rather than full-cycle de-risking.