JPMorgan points to weak Bitcoin futures as signal for bear market
Bitcoin futures curve was in backwardation for most of 2018, a year when BTC lost 74% of its value, JPMorgan noted. JPMorgan’s cryptocurrency market analysts have pointed to the difference between Bitcoin’s (BTC) spot prices and BTC futures prices as a potential bearish sign for the market.In a Thursday note to clients, JPMorgan analysts led by global market strategist Nikolaos Panigirtzoglou wrote that the Bitcoin market has returned to backwardation — a situation when the spot price is above futures prices. The analysts said that the past month's correction in crypto markets saw Bitcoin....
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Investment bank JPMorgan Chase has warned of a further bitcoin price decline, expecting an incoming bear market. The bank’s analysts look at the trend in bitcoin futures and see “an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors.” However, a number of people disagree with this analysis. JPMorgan Warns of Incoming Bear Market JPMorgan Chase analysts, led by Nikolaos Panigirtzoglou, warned of an incoming bitcoin bear market in a note to investors last week. The analysts looked at bitcoin futures which have been....
Global investment bank JPMorgan has predicted that the bitcoin price slump will likely be over when the cryptocurrency’s dominance rises back above 50%. “I think that’s another indicator to watch here in terms of whether this bear phase is over or not,” the firm’s analyst explained. JPMorgan’s Bitcoin Market Prediction JPMorgan analyst Nikolaos Panigirtzoglou has shared his view of when he expects the current bitcoin bear market to be over. In an interview with CNBC on Tuesday, the analyst explained that the bitcoin price slump will likely end when the....
Ether futures are currently trading at a premium as investors make the switch from Bitcoin-based products. American multinational investment bank JPMorgan has revealed that institutional investors are starting to shy away from Bitcoin futures in favor of Ether derivatives.In a note to investors on Sept. 22, analysts at the Wall Street bank said that Bitcoin futures on the Chicago Mercantile Exchange (CME) have traded at a discount compared to spot BTC prices during September.As a consequence, Ethereum-based products have grown in popularity as investors made the switch to the world’s....
According to a recent post on X by crypto analyst Crypto Rover, the Bitcoin (BTC) Rainbow Chart is flashing a buy signal, suggesting that the leading cryptocurrency may be on the cusp of a significant upward move. However, weak market demand could pose a risk to this bullish momentum. Bitcoin Rainbow Chart Flashes Buy Signal […]
JPMorgan has released a report on the futures and derivatives market around bitcoin, providing insight and bullish sentiment.