JPMorgan Analysts Says Challenging Phase for Crypto Markets Has Passed
JPMorgan analysts believe that the challenging phase for the crypto markets has passed, as the unwinding of long positions appears to be nearing completion. Despite a correction in the market due to fading positive news and liquidations, the analysts see limited downside for crypto markets in the near term. The correction in the crypto market was in line with a broader correction in risk assets, and news of SpaceX liquidating its Bitcoin holdings also contributed to the market correction.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
JPMorgan Analysts Says Challenging Phase for Crypto Markets Has Passed
JPMorgan analysts believe that the challenging phase for the crypto markets has passed, as the unwinding of long positions appears to be nearing completion. Despite a correction in the market due to fading positive news and liquidations, the analysts see limited downside for crypto markets in the near term. The correction in the crypto market was in line with a broader correction in risk assets, and news of SpaceX liquidating its Bitcoin holdings also contributed to the market correction.