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JPMorgan: Crypto Selloff May Be Nearing a Bottom as ETF Outflows Ease
Source: CryptoNewsNet Original Title: JPMorgan says the crypto selloff may be nearing a bottom as ETF outflows ease Original Link: JPMorgan (JPM) said there are growing signs that the recent selloff in crypto markets may be nearing a bottom, with flow and positioning indicators pointing to stabilization after heavy de-risking late last year.
“Signs of a bottoming out in January are also seen in other crypto indicators in perpetual futures and in our position proxies on CME futures,” analysts led by Nikolaos Panigirtzoglou wrote.
Bitcoin and ether exchange-traded funds (ETFs) saw notable outflows in December, even as global equity ETFs attracted a record $235 billion of inflows, the bank said in a report. That divergence underscored how sharply investors reduced crypto exposure into year-end.
BTC and ETH have both fallen in recent months after strong gains earlier in the cycle, with bitcoin down double digits from its recent peak and major altcoins posting steeper declines.