Cryptocurrency Market 30-Day Capital Flow Review: Sell-Off Peaks, Capital Flows Back, Where to Look Next?
In the past month, the cryptocurrency market experienced a shift in sentiment from panic selling to capital inflow. What trends are revealed by this wave of capital movement, which involved selling pressure, wait-and-see attitudes, and then testing the waters again? Who is retreating? Who is coming back? This article helps you quickly understand.
1. Early March: Largest Weekly Outflow of Bitcoin in History, Market Risk Aversion Hits Record High
In the first half of March, cryptocurrency investment products saw a net outflow of funds for five consecutive weeks, totaling approximately $6.4 billion, a historical high.
• Bitcoin saw a weekly outflow of $2.59 billion, a historical record
• Ethereum also recorded its largest weekly capital outflow (approximately $300 million)
• American investors were the main redeeming party, accounting for over 90%
With a major capital withdrawal, BTC dropped to $76,000, and ETH fell nearly 17% in a month. Risk aversion dominated the market.
2. Stablecoins Become Safe Haven, USDC Market Cap Hits New High
A large amount of capital did not fully exit but instead flowed into stablecoins as a “reserve”:
• USDC market cap surpassed $60 billion, doubling year-on-year
• USDT market cap was approximately $144 billion, maintaining the top position
• Total stablecoin market cap rose to $235 billion, over 60% year-on-year growth
• However, the balance of stablecoins on exchanges decreased, with funds remaining on-chain to wait and see
Off-market funds are poised to enter, waiting for suitable entry signals.
3. Late March: Capital Flows Back, Bitcoin Takes the Lead
In mid to late March, the market began to recover:
• The net inflow of investment products that week was $644 million
• BTC received significant capital inflow of $724 million
• ETH continued to see outflows ($86 million), while altcoins recovered slowly
By the end of the month, funds for ETH, Solana, Sui, and others gradually flowed back, and market sentiment warmed up. The funds did not “exit the circle” but instead rotated on-chain, seeking more cost-effective places.
The current market is in a “building momentum” phase; funds have not yet fully surged in, but layout signals have appeared.
What do you think about the upcoming direction? Will stablecoins suddenly enter? Can ETH keep up with the pace? Feel free to discuss in the comments section～