JPMorgan forecasts limited downside for crypto markets: Report
JPMorgan's analysts consider Bitcoin's declining open interest to be a sign that the current price trend may be weakening. The crypto currency market 's recent downtrend appears to be coming to an end, as JPMorgan's latest research suggests that most long-position liquidations have been completed. According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends. Bitcoin's open interest decline is seen as a sign that the current price trend could be weakening, according to analysts. “As a result, we see limited downside for crypto market s over the near term.” CME BTC Futures Open Interest. Source: Coin...