The latest weekly data from CoinShares shows that for the week ending January 26, digital asset investment products saw approximately $1.73 billion net outflow, marking the largest single-week withdrawal since mid-November 2025. The funds were withdrawn across various major assets, with Bitcoin and Ethereum experiencing the most significant pressure.
Key Data: Largest Weekly Outflow in Two Months, Risk Appetite Weakens Again
CoinShares attributes this outflow to a combination of macroeconomic expectations and price momentum: the market's reduced expectation for rate cuts, weak price trends, and disappointment from some investors that "digital assets have not yet become beneficiaries of currency devaluation trade" all contributed to a preference for pulling back funds during this period of retraction.
Notably, in the previous week (ending January 19), digital asset investment products still recorded substantial net inflows, indicating a significant short-term reversal in investor sentiment.
Regional Distribution: U.S. Becomes "Main Battlefield," Mixed Attitudes in Europe
Regionally, net outflows were primarily concentrated in the U.S., nearly $1.8 billion; Sweden and the Netherlands also saw slight outflows. In contrast, Switzerland, Germany, and Canada recorded net inflows, with some funds choosing to increase their allocations during price dips.
Asset Level: Bitcoin and Ethereum Lead Outflows, Solana Attracts Inflows
On the asset level, Bitcoin had a net outflow of about $1.09 billion in a single week, the largest in two months; Ethereum's net outflow was approximately $630 million, and XRP also saw withdrawals. Meanwhile, products betting against Bitcoin only saw minimal inflows, reflecting a generally cautious market sentiment. Solana, however, recorded a net inflow of about $17.1 million, and there were small inflows into products related to Binance and Chainlink.
Market Focus: Will Capital Flows "Stop the Bleeding"? A Watch on Macroeconomics and Price Momentum
In the short term, investors often view weekly fund flows as a "thermometer" of risk appetite: if outflows taper off, it usually means selling pressure is easing; conversely, if they continue to increase, it could exacerbate volatility. At the time of writing, Bitcoin prices are still fluctuating (reported to be around $88,600), and the alignment of fund flows and price momentum will be a key focus moving forward.
