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Capital flows across major crypto assets turned sharply selective over the past day, with Bitcoin (BTC) standing out as one of the few large-cap tokens to post net inflows while stablecoins—especially USD Coin (USDC)—saw heavy withdrawals.

According to data from Cryptometer, as of April 9 at 12:00 a.m. ET (04:00 UTC), Bitcoin recorded approximately $26.6 million in net inflows over the past 24 hours, maintaining a modest but consistent bid relative to other top assets. The inflow came as several key markets showed net selling pressure, highlighting a narrow risk appetite concentrated around BTC rather than broad-based participation.

The most notable move was in stablecoins. USDC posted roughly $285.7 million in net outflows—the largest across all tracked assets—suggesting a significant reduction in on-exchange or actively deployed dollar liquidity. While stablecoin flows can reflect routine treasury movements, cross-venue rebalancing, or redemptions, the size of the USDC outflow points to a more pronounced shift in where investors are parking cash-like exposure.

Ethereum (ETH) also recorded meaningful withdrawals, with net outflows totaling about $51.7 million. The divergence between BTC inflows and ETH outflows underscores an increasingly common ‘Bitcoin-led’ positioning regime, where investors favor perceived relative safety and liquidity concentration in BTC during uncertain or range-bound conditions.

Several major altcoins followed the risk-off tone. Solana (SOL) saw around $22.5 million in net outflows, while XRP registered approximately $12.1 million in withdrawals. The pattern suggests traders may be trimming exposure in higher-beta assets even as BTC demand remains intact.

Not all stablecoin activity was negative. Tether (USDT) posted net inflows of about $11.2 million, indicating some liquidity rotation rather than a uniform exit from stablecoins. Market observers often track USDT inflows as a proxy for ‘deployable liquidity,’ though the modest magnitude compared with USDC’s withdrawal implies the overall shift was more about reallocation than an immediate surge in buying power.

Looking at top net inflows, Bitcoin led with $26.6 million, followed by TRON (TRX) at $13.8 million and Tether at $11.2 million. RLUSD added $8.9 million, while BNB recorded $6.3 million in net inflows.

On the outflow side, USDC dominated at $285.7 million, followed by Ethereum at $51.7 million. Bittensor (TAO) saw $32.2 million in net outflows, with Solana and Wrapped Bitcoin (WBTC) posting $22.5 million and $16.7 million in withdrawals, respectively.

Overall, the latest flow snapshot reinforces a market characterized by ‘selective demand’—with BTC still attracting incremental capital while broader risk exposure and certain stablecoin liquidity pools contract. If the trend persists, it could signal continued preference for large-cap liquidity and cautious positioning rather than a broad rotation into altcoins.

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