Stablecoin Surge Accompanies Massive Bitcoin and Ethereum Outflows

A large net outflow of $59 million from Bitcoin (BTC) and Ethereum (ETH) over the past few hours has been accompanied by a build-up in stablecoins, particularly Tether (USDT), as traders have taken a short-term 'wait-and-see' stance.

Data compiled by Cryptometer shows that during this period, about $10.53 million flowed into the digital asset market from fiat and cash-like sources, alongside $3.56 million in Brazilian real and approximately $1.03 million in euros.

On the inflow side, Bitcoin led with around $10.87 million, followed by Ethereum at roughly $6.33 million, as some traders continue to selectively take on risk despite a broader defensive positioning trend.

However, outflows dominated the headline trend, with Bitcoin seeing the largest withdrawal at approximately $36.66 million during the same five-hour window. Ethereum followed with about $22.62 million leaving.