According to financial information sources, on January 8th, JPMorgan Chase released a market analysis stating that the recent sharp sell-off in the cryptocurrency market may be nearing its end. Chief Analyst Nikolaos Panigirtzoglou pointed out that data shows outflows from Bitcoin and Ethereum-related ETFs have gradually stabilized in January, and futures market position indicators also suggest that investors' deleveraging actions have basically come to an end.

JPMorgan further analyzed that current market liquidity remains at healthy levels. This round of adjustment mainly originated from a statement issued by MSCI in October last year—potentially excluding crypto-related companies from its indices, triggering market de-risking operations, rather than being caused by fundamental pressures. The good news is that MSCI has recently changed its stance and temporarily decided not to exclude crypto concept stocks from the global stock index review scheduled for February 2026. This decision has alleviated market uncertainty and dispelled investors' concerns about passive sell-offs caused by index adjustments.