The renowned banking institution JPMorgan has recently released an analysis titled “Limited Downside”, which suggests that the recent corrective phase in the cryptocurrency markets may be coming to an end. This conclusion was drawn from their comprehensive study of CME Bitcoin Futures contracts. Initially, traders had established long positions in response to favorable developments in the crypto sphere, such as the XRP legal ruling, positive expectations surrounding SEC’s potential approval of spot Bitcoin ETFs, PayPal’s foray into the stablecoin market, and preparations for the impending Bitcoin halving event. However, a wave of liquidations in long positions was triggered by dwindling market optimism due to the SEC’s expressed intent to appeal the XRP judgment and Congressional debates concerning stringent stablecoin regulations. According to JPMorgan’s analysts, the process of unwinding these long positions appears to be nearing its conclusion now. They highlighted that this correction is part of a broader trend involving the reduction of risk exposure across various asset classes, including equities and technology companies. As of the time of writing this article, the price of Bitcoin (BTC) is hovering just above the $26,000 mark. This assessment suggests that while challenges remain, the market could make its way towards a more favorable upturn in the near future.

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Information	Details
Geography	Global
Countries	🇺🇸 🇨🇳
Sentiment	positive
Relevance Score	9
People
Companies	JPMorgan, PayPal, CME, SEC, XRP
Currencies	sec., ethereum, xrp, usd, bitcoin
Securities