Bitcoin Funds Shed $264M Last Week, Alts Reverse Negative Trend

In brief

• Bitcoin funds saw weekly outflows slow from $1.7 billion to $264.4 million last week, while altcoin fund flows have turned positive for the first time in three weeks.
• CoinShares suggests that this slowdown in outflows could indicate that the market has hit a bottom, as crypto prices bounce following last week’s rout.
• Some analysts predict that the market may remain negative in the short- and medium-term, although long-term bulls remain characteristically bullish.