JPMorgan Analysts See Crypto Market Bottom as Bitcoin ETF Outflows Slow Down

Analysts at JPMorgan Chase suggest the recent cryptocurrency selloff could be approaching its end. The key indicator, according to the bank, is a significant slowdown in outflows from spot Bitcoin exchange-traded funds (ETFs). This easing pressure is viewed as a signal that the downward trend for Bitcoin (BTC) and the broader crypto market may be losing momentum. The report highlights that the substantial outflows from Grayscale's Bitcoin Trust (GBTC), a major factor in the market decline, have notably decreased. While caution remains, this development is seen as a potential precursor to market stabilization, offering a more balanced outlook for major cryptocurrencies like Ethereum (ETH) after a period of sustained selling.