Market Overview
Bitcoin heads into Friday's session at $65,030, extending a monthly gain of 13.7% even as the seven-day tape shows a slight 0.6% pullback. Ether lags at $1,916.50, down 3.7% over the week, while Solana continues to outperform with a 9.2% weekly advance to $73.63. The mix — BTC firm, ETH heavy, SOL leading — is consistent with rotation within the majors rather than a broad risk shift.
ETF Flows Recap
Thursday's settled tape showed spot bitcoin ETFs registering +$13.5M ↑ in net inflows, according to InflowScan data. Issuer reports for Friday have not yet published; the figures below reflect the most recent settled session.
The redemption side was concentrated in a single name:
The concentration matters. Absent the HODL exit, Thursday's headline figure would have printed materially larger, and the top three inflows all cleared the size of every other move on the tape. A GBTC print in positive territory is the unusual data point — the Grayscale product has run as a net drag on the complex for most of 2025 and 2026, so a $7.5M creation, even if modest, breaks the pattern. InflowScan data shows the BTC complex remains directionally positive on a 30-day view, consistent with the 13.7% monthly price gain.
Asset Price Analysis
Bitcoin's 1.1% overnight bid puts it back above the $65,000 handle after a mid-week test lower. The pair has traded in a tightening range through the week, with the 30-day trend still doing the heavy lifting. Resistance sits at the recent local highs near $66,500; support at $63,800 held on the last pullback.
Ether at $1,916.50 continues to underperform. The 3.7% weekly decline against BTC's roughly flat print widens the ETH/BTC divergence that has defined the summer. Reclaiming $2,000 is the near-term line separating the current drift from a more durable base.
Solana's $73.63 print extends the strongest weekly move in the majors at +9.2%, with the 30-day figure now at +15.6% — the only large-cap outperforming BTC on that horizon. XRP is essentially flat at $1.03, holding a modest 1.7% weekly gain.
Stablecoin Flows
Dollar-stablecoin supply continues to expand. USDT added $444M in the last 24 hours to $183.5B, and USDC added $160M to $71.9B, according to InflowScan data. Combined net issuance of roughly $604M in a single session is consistent with dry powder building rather than depleting — a backdrop that historically has coincided with the modest ETF creation activity seen on Thursday's tape.
Outlook
Friday's session will bring the first issuer prints covering today's trading; those settle overnight and will lead Monday's pre-market brief. On the tape, the levels to watch are BTC's $65,000 handle as intraday pivot, with $66,500 as the ceiling that has capped price on recent attempts. For ETH, the $1,900 line is the immediate marker; a break below opens the door to retesting the July lows. On the flow side, whether HODL's Thursday redemption is a one-off or the start of a sustained rotation out of the VanEck product is the single most useful data point to track into next week.