Crypto Markets
Crypto markets rallied broadly Friday, with Bitcoin advancing 1.34% to $81,439 and Ethereum climbing 3.45% to $2,660, according to Binance US. Solana rose 3.20%, XRP gained 3.40%, and BNB added 2.64%, reflecting renewed risk appetite and signs of institutional re-engagement after a period of ETF outflows and consolidation.
According to CoinMarketCap, Bitcoin had previously dropped amid macro caution, ETF outflows, and liquidations, with U.S. spot BTC ETFs seeing roughly $2.6–3.5 billion of net outflows over late May and early June. One week alone saw near $3.4 billion redeemed, according to detailed market recaps cited by the platform. Bernstein analysis pointed to about $2.6 billion of ETF outflows year-to-date, underscoring the pressure Bitcoin faced from institutional redemptions.
However, Cointelegraph reported that unhedged spot Bitcoin ETF flows show BTC is now a macro asset, with data from Avenir Group and Glassnode concluding that spot Bitcoin ETF inflows are largely unhedged, pointing to real institutional investor conviction. The publication also noted that a Bitcoin price rally to $79,000–$80,000 would bring the bulk of spot BTC ETF holders to breakeven on their positions, potentially signaling the resumption of the crypto bull market. Traders have identified $80,000 as a key level, with support holding above a trendline at $68,000 critical for the rebound to continue.
CNBC added that while spot bitcoin ETFs have declined by billions of dollars in recent months, net inflows from investors remain much higher over the past one-year period, and ETF experts say the recent outflows do not signal investor panic. The return of spot Bitcoin ETF inflows may fuel a BTC price recovery, according to Cointelegraph, as signs of a potential rebound to $75,000–$80,000 emerge.
In the altcoin space, CoinMarketCap reported that Avalanche (AVAX) surged 17% in 24 hours, driven by altcoin rotation, technical breakouts, and institutional interest in real-world asset (RWA) applications. Aptos (APT) jumped 22.53% following the mainnet launch of Confidential APT on September 18, a feature allowing users to hide APT balances and transfer amounts while keeping transactions verifiable. Soil, developed by ORQO Group, launched what it describes as the first compliant real-world asset–backed yield protocol on the XRP Ledger, enabling RLUSD holders to earn fixed on-chain returns for the first time.
On the regulatory front, The Block reported that the U.S. sanctioned Iranian crypto exchange BitBank over alleged bitcoin transfers to the Islamic Revolutionary Guard Corps (IRGC), adding to the evolving compliance landscape. Separately, The Block confirmed that Hyperliquid's recent API outage was caused by a spike in traffic, not a hack or exploit, dispelling concerns over platform security. PeckShield data cited by The Block showed that losses from crypto hacks and exploits reached $52 million in March, a reminder of ongoing security risks in the sector.
Friday's rally suggests that crypto markets are stabilizing after a period of outflows and consolidation, with institutional interest showing signs of returning as Bitcoin approaches key technical levels.
