Cryptoverse: The early birds betting bitcoin’s bottoming out – Reuters.com
- Date: 07-Jun-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Cryptoverse: The early birds betting bitcoin’s bottoming out – Reuters.com
June 7 (Reuters) - As the crypto winter creeps into June, the first signs of a thaw are emerging.
Some investors are now betting that bitcoin is bottoming out, judging by the money heading into listed cryptocurrency funds, which represent just a slice of the market yet are popular among institutional and retail players alike.
Overall flows into such funds turned positive last month, with a weekly average inflow of $66.5 million, a reversal from a dismal April when they saw a weekly average outflow of $49.6 million, according to data provider CryptoCompare.