Bitcoin, USDC Lead $760 Million Outflows as USDT Sees Inflows

Bitcoin (BTC) and USD Coin (USDC) led broad outflows across major crypto assets over the past 24 hours, underscoring a defensive tilt in positioning even as pockets of demand emerged in Tether (USDT), Wrapped Bitcoin (WBTC), and Hyperliquid (HYPE). The split flow suggests traders are rotating liquidity rather than exiting the market entirely, with stablecoin preferences and on-chain access routes playing an outsized role in day-to-day moves.

According to Cryptometer data tracked as of June 25 UTC, Bitcoin posted roughly $3.1 billion in inflows versus $3.5 billion in outflows, resulting in a net outflow of about $486.3 million. Ethereum (ETH) also saw modest net selling pressure, with approximately $1.0 billion in inflows and $1.1 billion in outflows, for a net outflow of $57 million.

Stablecoin flows were notably divergent. USDT recorded about $233.8 million in inflows and $168.4 million in outflows, translating to a net inflow of $65.4 million—one of the strongest positive readings among large-cap tokens in the dataset. By contrast, USDC registered about $998.2 million in inflows against $1.2 billion in outflows, producing a net outflow of $273.9 million.

Market participants often read stablecoin flow differentials as a proxy for where deployable liquidity is being parked. A pivot toward USDT alongside USDC redemptions can reflect shifting venue demand, cross-border settlement preferences, or traders repositioning collateral for derivatives and perpetual futures activity. It can also signal regional or platform-driven liquidity migration, rather than a simple risk-on or risk-off verdict for crypto as a whole.

Outside the top two networks, several assets posted smaller but notable net inflows. WBTC saw a net inflow of $13.7 million, while Hyperliquid (HYPE) gained $7.2 million. Euro (EUR) flows were net positive by $4.4 million, and Story (IP) added $3.3 million. These figures, though comparatively modest, point to selective appetite in tokenized exposure and trading-linked ecosystems even as headline assets faced net selling pressure.

Elsewhere, a wide set of major tokens recorded net outflows. Solana (SOL) saw about $28.2 million in net outflows, XRP posted $13.2 million, Dogecoin (DOGE) $13.9 million, BNB $12.6 million, and Worldcoin (WLD) $8.8 million. Additional net outflows were observed in Zcash (ZEC) at $7.2 million and Cardano (ADA) at $4.9 million, while MEGA led mid-cap declines with $44.8 million in net outflows; USD1 posted $19.4 million in net outflows.

By net flows over the 24-hour window, the largest inflows were concentrated in USDT ($65.4 million), WBTC ($13.7 million), HYPE ($7.2 million), EUR ($4.4 million), and IP ($3.3 million). The biggest net outflows were led by BTC (-$486.3 million), USDC (-$273.9 million), ETH (-$57 million), MEGA (-$44.8 million), and SOL (-$28.2 million).

Overall, the latest snapshot highlights a market where liquidity is moving quickly between core assets and settlement instruments, with 'stablecoin preference shifts' emerging as a key driver of short-term flow dynamics. If the pattern persists, analysts will likely focus on whether USDC outflows represent temporary rebalancing or a broader collateral rotation that could influence exchange liquidity and derivatives positioning in the days ahead.