$BTC raked in $500 million in ETF inflows, $130 million was pulled from ETH, and ZEC shorts were buried alive at 1,224

U.S. markets opened tonight and the broader market shot straight up. BTC broke above $83,000, ETH climbed to $2,465, and SOL neared $108. But beneath this rally, capital flows were sharply divided.

Over the past 24 hours, U.S. spot Bitcoin ETFs saw net inflows of $526 million. BlackRock’s IBIT alone took in $665 million, making up for the outflows of the previous two weeks in one fell swoop. At the same time, Ethereum ETFs saw net outflows of $133 million, with $95.4 million pulled from BlackRock’s ETHA alone. BTC is attracting capital while $ETH is bleeding, yet both prices are rising—which suggests tonight’s rally wasn’t driven by the slow-moving institutions behind ETFs, but by shorts in the futures market being backed into a corner.

$ZEC was the wildest mover tonight. It surged from 1,138 to 1,224, up 8.84%. The Zakura team just submitted a post-quantum cross-chain privacy proposal, and the outcome of the NU7 mainnet upgrade is due today. Shorts in the 1,180–1,224 range were completely wiped out. A Paradigm co-founder disclosed a direct investment in ZEC, saying it was a long-term bet—but the market rallied first and asked questions later.

Tom Lee’s camp wasn’t idle either. The BitMine chairman publicly said that “even $10,000 for ETH is too low.” Take that with a grain of salt, but combined with tonight’s ETH short squeeze, it has certainly fired up retail sentiment.

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