According to CoinMeta, the Wintermute over-the-counter trading weekly report shows that retail customers sold Bitcoin last week to fund the rotation into altcoins. Wintermute states that market breadth has expanded to a level where flat or declining markets have accounted for over 80% in the weeks that followed, and cites oil prices, interest rates, and the Federal Reserve's further interest rate hikes as the main external threats to the current system.