JPMorgan warns of overbought bitcoin as spot ETFs see outflows
According to JPMorgan, bitcoin is still overbought and profit-taking could continue leading up to the halving event. The past week saw a significant outflow in spot ETFs, which challenges the idea of sustained net inflows. Despite the recent correction, positioning still looks overbought and the bank predicts that profit-taking will continue as the halving event approaches. The quadrennial reward halving, which cuts miners' rewards in half, is expected in mid-April.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Foundation Launches Trillion Dollar Security Initiative to Strengthen Network
The Ethereum Foundation has launched a “Trillion Dollar Security Initiative” to enhance the security and resilience of the Ethereum blockchain. This program aims to protect the network, which supports a wide range of decentralized finance applications, NFTs, and smart contracts.
MetaMask Token Launch Remains Uncertain, Says Co-Founder Dan Finlay
MetaMask is still considering the launch of a native token, but no definitive plans have been made yet. Dan Finlay, MetaMask’s co-founder, described the possibility of a token as a “maybe” during an interview on The Block’s “Crypto Beat” podcast on May 14, 2025.
Is the XRP price rally over for now?
South Korea’s Presidential Candidates Back Bitcoin ETFs
Trending news
MoreCrypto prices
More
