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Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000. JPMorgan on FTX and Bitcoin’s Price JPMorgan Chase’s
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JPMorgan said investors can potentially look for a bottom in bitcoin (BTC) pricing through its production cost, which has sometimes acted as a floor. The current production cost is about $15,000, though it's likely to revisit the $13,000 it hit in recent months, implying a decline of around 25% from
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Bitcoin (BTC) price continues to struggle at $20,000 and repeat dips under this level have led some analysts to project deeper downside in the short-term. Earlier in the week, independent market analyst Philip Swift tweeted that the Crypto Fear and Greed Index had dropped back to back to “Extreme Fear,”
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Demand for crypto is improving and the intense deleveraging phase appears to be behind us, according to JPMorgan (JPM). Source
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The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market, according to a JPMorgan analyst.In a Wednesday note, JPMorgan strategist Nikolaos Panigirtzoglou highlighted increased willingness of firms to bail out companies, and a healthy pace
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The weakest crypto companies, those with high leverage and lower capital levels, are the most challenged. Conversely, those with the healthiest balance sheets are most likely to survive and will emerge stronger once this current phase is over, the report says. Original Source
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