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Headline : JPMorgan ‘struggles to find the next catalyst for’ Bitcoin and crypto market

Read more from the original article on here at ng.investing.com.





Tags : #jpmorgan #struggles #find #next #catalyst #bitcoin #crypto #market



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JPMorgan maintains a cautious stance on cryptocurrency markets in the short term due to a lack of immediate catalysts for bullish market movements, citing subdued ETF inflows and regulatory challenges. 

In a detailed market update, the Wall Street giant pinpointed headwinds that are currently impacting the cryptocurrency market. The analysis focused on the performance of Bitcoin and Ethereum ETFs, the implications of Bitcoin's fourth halving, and broader regulatory developments.

"Perhaps these April showers and its poorer month for the cryptoecosystem will bring May flowers and fresher crypto gains and increased activity, but the first few days of May are not tracking notably better than April and we struggle to find the next catalyst for the cryptoecosystem," it is said in a report.

Despite the recent downturn in April, JPMorgan sees mixed signs with potential upsides as investors are piling back into the market after a brief pause. The report details a $218 million in net sales from U.S. spot Bitcoin ETFs on their 80th day of trading, with Fidelity’s FBTC and ARK/21Shares’ ARKB leading the flows. 

Read more from the original article on here at ng.investing.com.


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