JPMorgan: Crypto market is in waiting mode

BestChange
1 min readOct 8, 2024

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What “critical” factors can affect the crypto industry in the coming months? Analysts from JPMorgan answered this question.

They noted that in 70% of cases, October was a successful period for cryptocurrency investors. At the same time, the digital asset market has not yet felt the positive effect of the Fed’s key rate cut. The investment bank believes that the community has yet to “see a surge in cryptocurrency prices.”

In addition, one of the likely prerequisites for growth may be the approval of trading options on BTC-ETF, which will lead to increased liquidity and attract new players.

The analysts noted that the emergence of options provides investors with more flexible tools for working with ETFs, which will contribute to the growth of the underlying asset’s liquidity.

One of the expected events in JPMorgan was the upcoming Ethereum update called Pectra.

“While Pectra is expected to be transformational for Ethereum’s functionality, we view this upgrade as more structural than an immediate price catalyst,” the report says.

So what conclusion did JPMorgan make regarding the crypto market’s prospects? Analysts believe that it is still in “waiting mode,” but the drivers of ETH and BTC growth are gradually becoming more obvious.

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