A study of CME Group’s bitcoin futures and open interest indicates the crypto bear market may be approaching its end, according to JPMorgan analysts led by Nikolaos Panigirtzoglou. The bank’s market experts suggest that there’s “limited downside for crypto markets over the near term.” Reversal on the Horizon? JPMorgan Sees Limited Downside for Crypto Going Forward Over the past fortnight, bitcoin (BTC) and the broader crypto economy have experienced a decline, with the entire market valued just above one trillion at roughly $1.05 trillion as of Friday, August 25, 2023. Regardless of the recent crypto slump and the recorded $1 billion in liquidations on August 17, JPMorgan analysts, directed by senior analyst Nikolaos Panigirtzoglou, posit that this decline might have reached its end. The JPMorgan experts assert that extensive positions in CME’s bitcoin derivatives markets convey a narrative indicating that the recent unwinding has ceased. “As a result, we see limited downside fo
Official Bitcoin Latest News Blog 🗞️