JPMorgan Warns of Crypto Downside Risk Amid Weak Futures Demand
- JPMorgan analysts highlight near-term downside risk in the crypto market due to declining institutional demand for CME bitcoin and ether futures.
- The total crypto market cap has decreased by 15% from its $3.7 trillion peak on December 17.
- Bitcoin and ether futures are nearing backwardation, similar to last June and July’s market conditions.
- Analysts attribute reduced demand to a lack of positive catalysts and profit-taking by institutional investors.
The crypto market faces potential downturns as JPMorgan analysts report weakening demand for bitcoin and ether futures, with the total market cap down by 15% from previous highs.
Source (2.6)https://www.theblock.co/post/342466/the-daily-jpmorgan-warns-of-crypto-downside-risk-hashdex-set-to-launch-worlds-first-spot-xrp-etf-and-more
