Bearish sentiment may soon abate according to Coinshares and Bitcoin metrics By Cointelegraph

© Reuters.

While key (BTC) metrics don’t paint a pretty picture, the bears could be running on fumes. Contrary to analysts warning that Bitcoin could dip to $38,000 “before an eventual breakout”, CoinShares and Arcane Research suggest that the tide could be turning.

In brief, Bitcoin institutional outflows were negative four out of the last five weeks, totaling $55 milion. The total assets under management fell to a three-month low of $35 billion midweek last week.