BTC Price Rebounds After ETF Flows Turn Positive – Solana Outperforms While Binance Coin, Ethereum Slide

• Ethereum and Binance Coin both declined 2.5% in the last 24 hours, with retail sentiment trending ‘bearish.’
• Solana spot ETFs attracted inflows for a 16th consecutive day, totaling $55 million.
• More than $605 million in leveraged positions were liquidated across the crypto market in 24 hours.

Ethereum (ETH) and Binance Coin (BNB) led losses among major tokens in early morning trade on Thursday, while Bitcoin (BTC) posted a modest rebound and Solana (SOL) outperformed.

Solana spot ETFs recorded inflows for the 16th consecutive day, totaling $55 million on Wednesday. Solana’s price led gains among the top 10 cryptocurrencies by market capitalization. It was up 1.8% in the last 24 hours, but retail sentiment on Stocktwits around the altcoin trended in ‘extremely bearish’ territory over the past day.

Bitcoin ETF Outflows Reverse

Bitcoin spot ETFs reversed their five-day outflow trend on Wednesday with $75.47 million in net inflows, according to SoSoValue. Data showed BlackRock’s iShares Bitcoin ETF (IBIT)  accounted for the bulk of that total, bringing in $60.61 million after experiencing its largest single-day redemptions since launch. 

IBIT’s price rose 2.6% in pre-market trade with retail sentiment on Stocktwits rising to ‘extremely bullish’ from ‘bullish’ over the past day, accompanied by ‘high’ levels of chatter. Meanwhile, Bitcoin’s price edged 0.5% higher over the last 24 hours, and retail sentiment around the apex cryptocurrency continued to trend in ‘bearish’ territory alongside ‘high’ levels of chatter.

Ethereum ETFs Still Under Pressure

Ethereum spot ETFs remained under pressure, marking a sixth day of withdrawals, with net outflows exceeding $37 million on Wednesday.

The iShares Ethereum ETF (ETHA) gained 2.2% in pre-market trade. However, retail sentiment fell to ‘extremely bearish’ from ‘bearish’ over the past day as chatter remained at ‘normal’ levels. 

Ethereum’s price and Binance Coin’s price were down 2.5% in the last 24 hours. Retail sentiment around the leading altcoin remained in ‘bearish’ territory over the past day, even as chatter rose to ‘high’ from ‘normal’ levels. Retail sentiment around BNB was also in the ‘bearish’ zone.

Crypto Market Slips Further

The overall cryptocurrency market edged 0.2% lower in the last 24 hours to a market capitalization of $3.21 trillion. CoinGlass data showed that more than $605 million was wiped out in the last 24 hours. Most of the liquidations came from long positions totaling around $427 million, while short bets accounted for over $178 million. The Crypto Fear and Greed Index fell to 11, down 4 points from the previous session.

Among the top 10 cryptocurrencies by market capitalization, Ripple’s XRP (XRP) and Dogecoin (DOGE) declined 0.7%. Tron (TRX) slipped 0.6%, while Cardano (ADA) fell 0.4%.

Read also: Dow Futures Rise As Investors Cheer Nvidia’s Earnings Beat: NVDA, AMD, GOOGL, WMT Among Stocks To Watch

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