Cryptocurrency investment products have experienced a second consecutive week of significant withdrawals, with a total of $1.17 billion flowing out of the market. The selling pressure was overwhelmingly concentrated in the United States, which accounted for $1.22 billion in exits, while minor inflows from other regions provided a small offset.

The two largest digital assets bore the brunt of the redemptions. Bitcoin-focused funds saw $932 million withdrawn, and Ethereum products faced outflows of $438 million. According to a CoinShares report from November 10, this negative sentiment was intensified by political uncertainty, with high weekly trading volumes of $43 billion reflecting a volatile market.

Altcoins and Short Positions Buck the Trend

Despite the broad sell-off, some investors are positioning for further price declines. Short Bitcoin Exchange-Traded Products (ETPs) attracted $11.8 million, the largest weekly inflow for these bearish instruments since May. This indicates a growing segment of the market is hedging against or anticipating a continued downturn.

In a striking contrast, several altcoins defied the negative trend and attracted fresh capital. Solana continued its strong performance, pulling in an additional $118 million and pushing its nine-week inflow total to an impressive $2.1 billion. Other assets also saw positive movement, with Hedera and Hyperliquid registering inflows of $26.8 million and $4.2 million, respectively.

A Diverging Global Picture

The data reveals a clear divergence in investor sentiment across different regions. While US investors led the exodus, their European counterparts displayed more confidence. Funds in Germany and Switzerland recorded inflows of $41.3 million and $49.7 million, respectively, continuing a pattern of transatlantic disagreement on market direction.

This week’s withdrawals mark a substantial increase from the previous week’s $360 million total, suggesting that the risk-averse sentiment is deepening, particularly in the US. The market currently presents a divided picture, with American investors remaining cautious while European and some altcoin investors appear to be finding opportunistic entry points.