Cryptoverse: The early birds are betting bitcoin is bottoming out

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.