Is Bitcoin Still Overbought? JP Morgan Says Yes, Despite Recent Correction

Bitcoin experienced a notable downturn last week, followed by a rebound this week; however, analysts from JPMorgan suggest that it remains in an overbought state, implying potential for further price movement. The question on many investors' minds is: is this just a temporary blip, or is there more downside to come?

JP Morgan says Bitcoin “remains in overbought territory” despite its recent correction. While Bitcoin underwent a sharp correction last week before rebounding this week, it still remains in overbought territory, according to JPMorgan analysts, suggesting that the cryptocurrency's recent gains may be unsustainable in the short term.

However, JP Morgan believes that the sell-off of BTC May not be finished, as Bitcoin is still overbought according to the Bank. Specifically, in a report first reported by , JP Morgan strategists have reiterated their belief that Bitcoin still appears overbought, renewing a prediction made in February that further declines could occur.

This sentiment contrasts with other optimistic outlooks in the market. For example, Bernstein raised its 2025 year-end target for the king of cryptos to $90K, indicating a longer-term bullish perspective. However, JP Morgan's caution provides a counterpoint, urging investors to consider the possibility of continued volatility.

Therefore, while the long-term outlook for Bitcoin may be positive, according to some analysts, JP Morgan's analysis suggests that investors should proceed with caution, recognizing the potential for further correction due to its still-overbought status. Keep a close eye on market indicators and consider diversifying your portfolio to mitigate risk.