Bitcoin back above $82,000, ZEC up 11% as ether, SOL and ZEC ETF outflows continue

Altcoins outpaced bitcoin

ZEC wasn't alone. SOL and ether each gained more than 3%, to about $106 and $2,450 respectively, according to CoinDesk data (as of Friday morning). DOGE and XRP added between 2% and 3%, while BNB, HYPE and TRX rose about 1%. Bitcoin itself was up nearly 1%, and it was back above $82,000 after Thursday's brief drop under $80,000.

Outflows continue for ether, SOL and ZEC funds

The price bounce didn't carry over to fund flows. The U.S. spot ZEC fund lost about $15 million on Thursday, its fifth outflow of the month, according to SoSoValue data cited by CoinDesk. It's the token's only U.S. ETF, and investors pulled money from it even as ZEC rose. That's five separate days of withdrawals from the ZEC fund this month, with Thursday's $15 million landing a day before the token's 11% jump.

Ether funds shed about $60 million. SOL funds lost nearly $10 million (their ninth straight day of withdrawals), per the same SoSoValue figures. XRP sits on both sides of the ledger: the token added between 2% and 3%, while XRP funds saw a small outflow.

Bitcoin was the exception.

Bitcoin ETFs drew a net $5 million, which CoinDesk called a thin inflow after Wednesday's $261 million exit. Both figures are SoSoValue data, as reported by CoinDesk.

What would confirm the bounce?

So does the move off $80,000 have buyers behind it? CoinDesk's view is that a second straight day of bitcoin ETF inflows would be the first sign that it does. One day of inflows doesn't meet that test on its own.

For now, prices and fund flows are pointing in different directions. Tokens from ZEC to DOGE bounced on Friday morning, and investors in ether, SOL and ZEC funds kept pulling money out.