Crypto investment products experienced $1.7 billion in net outflows last week, bringing total year-to-date withdrawals to $1 billion. The decline is largely driven by U.S. investors pulling back from bitcoin and ether amid worsening sentiment and market pressures.

Bitcoin is currently trading above $111,000, experiencing minor gains while ether and the broader CoinDesk indexes perform better. With significant options expiration on the horizon, market sentiment indicates a potential push towards the $116,000 "max pain" level. Meanwhile, derivatives data shows mixed sentiment with traders hedging against potential price declines.