Jefferies Analysts: Crypto Market Bottom Not In, But Fundamental Tokens Like ETH, SOL Have Upside

Global investment bank Jefferies, in a recent note to clients, stated that clear signs of a bottom for the broader cryptocurrency market are not yet visible. Analysts pointed to ongoing pressures such as sustained outflows from crypto investment products and a lack of positive catalysts as reasons for caution. However, the report highlighted a significant divergence: while the overall market may struggle, cryptocurrencies with strong underlying fundamentals and clear use cases are poised for potential upside. Jefferies specifically cited Ethereum (ETH) and Solana (SOL) as examples of such tokens, noting their robust ecosystems and developer activity. The analysts concluded that a selective, fundamentals-driven approach is crucial for investors in the current environment, rather than betting on a broad market recovery.