Is the crypto boom over? JP Morgan Explains Why Crypto Has Limited Uptrend Going Forward. According to a recent report from JP Morgan, don't expect a significant crypto uptrend anytime soon. Analyst Nikolaos Panigirtzoglou highlighted that crypto prices have limited upside potential, citing the recent decline in the share of stablecoins. This suggests that any rebound in cryptocurrency markets is likely to be tactical, not a long-term bullish uptrend, as JPMorgan (JPM) said. The correction witnessed in both Bitcoin and Ethereum futures over the past few months also points to this trend.

While Wall Street giants are cautiously considering entering the cryptocurrency market, they're waiting for more regulatory clarity. JP Morgan analysts are observing trends in the futures market as a key warning sign. This contrasts with earlier speculation about a secret sovereign bitcoin bid and even JPMorgan CEO Jamie Dimon's previous call for bitcoin to be closed down. Dimon now expresses a different view.

Beyond JPMorgan's analysis, one crypto analyst provided compelling insights, noting that spikes in on-chain transfers seen in Bitcoin's network activity can be a valuable indicator. However, JP Morgan's perspective suggests that despite these potential indicators of network strength, the overall macroeconomic environment and the reduced stablecoin presence limit the potential for a substantial, sustained uptrend in the crypto market. Stay informed about the factors influencing crypto's future trajectory, including JP Morgan's analysis and other key market indicators.