JPMorgan Research Suggests End of Long-Position Liquidations in Cryptocurrency Market

08/27 00:06

JPMorgan's latest research suggests that the recent downtrend in the cryptocurrency market may be ending, as most long-position liquidations have been completed. Analysts for the American bank estimate that the liquidations are "largely behind us" based on the open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange. However, declining optimism around regulatory developments in the United States has contributed to the recent decline in crypto prices. The market remains sensitive to future developments, including the SEC's appeal against Ripple and concerns about China's economic growth.
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