Bitcoin, USDC Lead $200 Million Outflows as Crypto Markets Turn Risk-Off

Bitcoin (BTC) and USD Coin (USDC) saw notable net outflows over the past 24 hours, signaling a broader ‘risk-off’ tilt in major digital assets even as a handful of smaller tokens attracted selective inflows.

According to Cryptometer data dated May 28, flows across large-cap cryptocurrencies showed BTC posting roughly $1.9 billion in inflows against about $2.1 billion in outflows, resulting in a net outflow of approximately $200.11 million over the 24-hour window. Ethereum (ETH) also turned negative, with around $861.2 million entering and $944.0 million leaving, for a net outflow of about $82.7 million.

Stablecoin activity added to the defensive tone. USDC registered a net outflow of roughly $183.9 million, suggesting liquidity moving away from a commonly used on-chain settlement asset. The data also showed net outflows in RLUSD (about $25.6 million) and XRP (about $17.6 million), underscoring that the pullback extended beyond the two largest cryptoassets.

Still, the tape was not uniformly negative. Stellar (XLM) recorded a net inflow of about $11.4 million, with approximately $101.4 million entering versus $89.9 million exiting. Uniswap (UNI) drew a net $2.9 million, while Tether Gold (XAUT)—a tokenized gold product—posted a net inflow of about $3.1 million, hinting at targeted rotation toward ‘defensive’ or idiosyncratic narratives rather than a broad-based bid.

Beyond the majors, several assets reported net outflows, including Sui (SUI, about -$11.9 million), Dogecoin (DOGE, about -$10.7 million), USD1 (about -$9.3 million), Worldcoin (WLD, about -$8.4 million), Zcash (ZEC, about -$6.5 million), and Hyperliquid (HYPE, about -$6.1 million). The spread of red across both high-profile and mid-cap names suggests de-risking that is not confined to a single sector or theme.

On a 24-hour basis, the five largest net inflows were XLM (about $11.4 million), U (about $4.6 million), XAUT (about $3.1 million), UNI (about $2.9 million), and Wrapped Bitcoin (WBTC, about $945,000). The five largest net outflows were BTC (about -$200.11 million), USDC (about -$183.9 million), ETH (about -$82.7 million), RLUSD (about -$25.6 million), and XRP (about -$17.6 million).

While flow data can be noisy and reflects exchange movements as well as positioning, the latest snapshot points to near-term caution concentrating in the most widely held assets and stablecoin liquidity, with only pockets of inflow elsewhere. If sustained, continued outflows from BTC and ETH would likely weigh on broader market sentiment, even as selective rotation supports isolated names.