{"id":10023,"date":"2023-08-27T13:47:47","date_gmt":"2023-08-27T17:47:47","guid":{"rendered":"http:\/\/leadingcryptonews.com\/jpmorgan-forecasts-limited-downside-for-crypto-markets-report\/"},"modified":"2023-08-27T13:47:47","modified_gmt":"2023-08-27T17:47:47","slug":"jpmorgan-forecasts-limited-downside-for-crypto-markets-report","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/jpmorgan-forecasts-limited-downside-for-crypto-markets-report\/","title":{"rendered":"JPMorgan forecasts limited downside for crypto markets: Report"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-v-2649fa34=\"\">\n<p>The cryptocurrency market\u2019s recent downtrend appears to be coming to an end, with JPMorgan\u2019s latest research suggesting that most long position liquidations have been completed.<\/p>\n<p>According to a Bloomberg report, analysts for the United States-based bank estimate that the liquidations are \u201clargely behind us.\u201d The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME), indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends. <\/p>\n<p>Bitcoin\u2019s open interest decline is seen as a sign that the current price trend could be weakening, according to analysts: \u201cAs a result, we see limited downside for crypto markets over the near term.\u201d<\/p>\n<figure><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-08\/046bbd21-ddf7-4d2d-bb5a-1a36e5e39c44.png\" alt=\"\" title=\"\"\/><\/noscript><figcaption style=\"text-align: center;\">CME BTC futures open interest. Source: CoinGlass<\/figcaption><\/figure>\n<p>Crypto prices have been on a downtrend in recent weeks due to declining optimism around regulatory developments in the U.S., states the report. On Aug. 26, Bitcoin traded close to $26,000, down 11.27% over the past 30 days, according to Cointelegraph Markets.<\/p>\n<p>Positive developments in the previous months boosted Bitcoin\u2019s price. Among them were a series of applications for the first U.S. exchange-traded funds (ETFs) linked to Bitcoin\u2019s spot price. The list of players waiting for regulatory approval includes BlackRock, Fidelity, ARK Invest and 21Shares, among others.<\/p>\n<p>Ripple Labs\u2019 partial victory against the U.S. Securities and Exchange Commission (SEC) was another positive development. However, this optimism is gradually fading, notes the analysis, as traders await Bitcoin ETF decisions and the SEC\u2019s appeal against Ripple brings renewed uncertainty.<\/p>\n<p> The scenario contributes to a \u201cnew round of legal uncertainty\u201d for crypto markets, making them sensitive to future developments, according to JPMorgan\u2019s team. External market conditions also played a role in the crypto market\u2019s decline, including the rising U.S. real yields and concerns about China\u2019s economic growth.<\/p>\n<p><strong>Magazine:\u00a0<\/strong><strong>Should you \u2018orange pill\u2019 children? The case for Bitcoin kids books<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/jpmorgan-forecasts-limited-downside-crypto-markets\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market\u2019s recent downtrend appears to be coming to an end, with JPMorgan\u2019s latest research suggesting that most long position liquidations have been completed. According to a Bloomberg report, analysts for the United States-based bank estimate that the liquidations are \u201clargely behind us.\u201d The prediction is based on the open interest in Bitcoin (BTC) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-10023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JPMorgan forecasts limited downside for crypto markets: Report - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/jpmorgan-forecasts-limited-downside-for-crypto-markets-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan forecasts limited downside for crypto markets: Report\" \/>\n<meta property=\"og:description\" content=\"The cryptocurrency market\u2019s recent downtrend appears to be coming to an end, with JPMorgan\u2019s latest research suggesting that most long position liquidations have been completed. 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