Caution Advised in Crypto Markets by JPMorgan Analysts
Be cautious about the crypto market due to various factors according to JPMorgan analysts.
Recent Market Activity
- Significant selling and profit-taking observed in the past two weeks
- Retail investors possibly playing a larger role than institutional investors
- Retail investors selling both crypto and equity assets in April
- Spot bitcoin ETFs experiencing outflows
- Net flow into equity funds turning negative in April
Institutional Investors
Momentum traders like commodity trading advisors and quantitative funds have been taking profits on their extreme long positions in bitcoin and gold.
Other institutional investors have also been reducing their positions, but to a lesser extent.
Previous Warnings and Predictions
- JPMorgan analysts previously warned of a potential bitcoin price drop after halving
- In February, they predicted the bitcoin price to drop to $42,000 after halving
The current price of bitcoin is around $58,900.
Hot Take: Exercise Caution in the Crypto Markets
Continue to be cautious in the crypto markets as recommended by JPMorgan analysts due to various factors affecting the market.
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