Criptocurrenci Market Missing positive catalysts in the near mandate, says JPMORGAN (JPM)

The cryptocurrent market lacks positive catalysts in a close mandate, JPMorgan Street Bank Lal Street (JPM) said on Wednesday.

Correction to crypto markets in recent months saw Bitcoin (Btc) and ether (El) Futures near backwards, which is a sign of lower demand, the report said. Back It occurs when the price points are greater than the price price in the futures market.

“This is a negative development and indicates the weakness of the requests by these institutional investors who use CME socutes contracts to gain exposure to these two cryptocurrency,” Nikolaos Panigirtzoglou analysts wrote.

If the demand for Bitcoin and Etrosm of the Future is healthy, the future cost more than the price point, and the penalty is that it is to blame contrangseThe bank noted.

When the demand slows down and expectations of prices soften, the futures curve moves back, and the bank added.

This weakness in demand could be a consequence for several reasons.

The positive crypto initiative of the Trump’s new administration is more likely to enter the second half, in which the bank said, which means that institutional investors are likely to take profits due to lack of short-term catalysts.

Lower demand from systematic and current funds delayed, such as CTAS, also hit Bitcoin and the etheretic future, JPMORGAN added.

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