JP Morgan: Cryptocurrency Rally Loses Momentum, Grows More Susceptible to Macroeconomic Conditions
CryptoNewsTerminal Staff06 Sep, 2024
JP Morgan: Cryptocurrency Rally Loses Momentum, Grows More Susceptible to Macroeconomic Conditions
JP Morgan recently published a report stating that the current cryptocurrency market lacks positive sentiment and is reacting more sensitively to macroeconomic conditions. This analysis aligns with the 24% decrease in market capitalization since March 2022. Without fresh retail interest, the market remains stagnant. The underperformance of ETH spot ETFs compared to BTC spot ETFs further illustrates this lackluster sentiment. Until a catalyst emerges, the cryptocurrency market's upward trajectory may remain subdued.
