What you need to know:
- Digital asset investment products recorded the largest outflows since November 2025, totaling $1.73 billion.
- Bitcoin led the withdrawals with $1.09 billion, while Solana attracted inflows of $17.1 million.
- Binance’s derivatives data shows open interest of $10.78 billion, with selling pressure slightly outweighing buying.
Digital asset investment products saw a significant decline from January 26, with investors withdrawing a total of $1.73 billion. According to CoinSharesThis is the largest outflow since mid-November 2025.
Market watchers attribute the decline to declining expectations of rate cuts, negative price momentum and disappointment that cryptocurrencies have not participated in broader macro trends associated with currency decline.
The United States was hardest hit by the withdrawals, with nearly $1.8 billion exiting investment products. A smaller outflow took place in Sweden ($11.1 million) and the Netherlands ($4.4 million).
Source: Coin shares
Meanwhile, Switzerland, Germany and Canada recorded inflows of $32.5 million, $19.1 million and $33.5 million respectively, as traders added positions at lower prices.
Bitcoin and Ethereum are under pressure, Solana is winning
Bitcoin saw the largest outflow of $1.09 billion, marking the most substantial pullback since November 2025. Small inflows of $0.5 million into short Bitcoin products indicate traders are hedging, but sentiment remains weak following the October 10, 2025 price crash.
Ethereum and XRP also saw declines, with $630 million and $18.2 million leaving the market respectively.
Source: Coin shares
Solana, on the other hand, recorded inflows of $17.1 million, while Binance and Chainlink posted smaller gains of $4.6 million and $3.8 million. Analysts note that this mixed pattern suggests selective optimism rather than a broad market recovery.
Also read: Bitcoin (BTC) is falling towards $88,000 as analysts highlight three key points of support
Data from Binance shows balanced sales of derivatives
According to one report from CryptoQuantopen interest in Bitcoin derivatives on Binance is high, at approximately $10.78 billion.
The market has takers willing to buy (long) at $5.16 billion, and takers willing to sell (short) at $5.68 billion, which means slightly more selling. The long/short ratio of 0.91 indicates slightly bearish sentiment, but not in an oversold region.
Source: CryptoQuant
The open interest to volume ratio is 0.99, which indicates a highly leveraged market that can move quickly. Market participants are holding on to their positions and there is sufficient liquidity.
Market analysts have indicated that a highly leveraged market with increasing selling pressure could lead to rapid liquidations if market conditions deteriorate further.
Why this matters
Investors should pay attention to leverage and derivative outflows as increased open interest increases the likelihood of sudden market swings.
Also read: Bitcoin is facing increasing regulatory pressure from central banks
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