J.P Morgan Issues Bearish Bitcoin Alert

From tickmill.com

Despite the recovery off the week’s lows, JP Morgan has issued a bearish alert on Bitcoin and the broader crypto market. Analysts from the US investment bank said in a note this week that a lack of bullish catalysts and an exodus of ETF demand is creating strong headwinds for the market which could see Bitcoin turn sharply lower near-term. Overall crypto market cap has fallen by around 15% from record highs in December. Notably, the dynamic shift means that CME bitcoin prices are close to entering backwardation (futures prices fall below spot prices), which last occurred in June/July 2024. Looking ahead, JP Morgan ... (full story)