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<ol> 
 <li>JPMorgan analysts believe that the current crypto bear market may soon come to an end.</li> 
 <li>The conclusion of the unwinding of long positions seems to be approaching, as per the analysts.</li> 
 <li>US regulators and FTX may still tank prices if they sell their held cryptocurrencies.</li> 
</ol> 
<p>Amid the recent downturn in the cryptocurrency market, which saw a staggering $1 billion in liquidations on August 17, a team of analysts led by senior expert Nikolaos Panigirtzoglou at JPMorgan suggests that this downward trend might be on the verge of a turnaround.</p> 
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   <p lang="en" dir="ltr">JUST IN: JPMorgan says the recent selloff in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and crypto is likely near an end.<br><br>Bullish <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/1mlCB6GRfX" rel="noopener noreferrer nofollow">pic.twitter.com/1mlCB6GRfX</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1695114380973678971?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 25, 2023</a> 
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<p>The JPMorgan analysts argue that the substantial positions held in CME’s bitcoin derivatives markets are conveying a narrative that indicates a cessation of the recent market unwinding. Panigirtzoglou expressed in a recent investor’s note that this suggests a potential limited downside for the cryptocurrency markets in the near future.&nbsp;</p> 
<p>Additionally, the analysts delved into the recent incident involving SpaceX’s write-off of bitcoin holdings, highlighting that this news “surprised investors with an excess of extended positions,” as per a Bitcoin.com article.</p> 
<p>The investor’s note also addressed the anticipation surrounding the prospective launch of a BlackRock spot bitcoin exchange-traded fund (ETF) and similar offerings by various other entities.&nbsp;</p> 
<p>The analysts acknowledged that the initial positive impact of the partial ruling in the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple managed to bolster the markets briefly. However, subsequent appeals by the SEC have exerted downward pressure on prices.&nbsp;</p> 
<p>What is more, US regulators and bankrupt exchange FTX still have considerable amount of crypto to sell, which may trigger price crashes at any time.</p> 
<p>“The fading effects of the aforementioned positive news have triggered a series of liquidations among long positions in recent weeks, creating ongoing ripples,” the analysts said. Nevertheless, they pointed out, “The conclusion of the unwinding of long positions seems to be approaching, signaling an end phase rather than a commencement,” a sentiment shared by Panigirtzoglou and his associates.</p> 
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 <li><a href="https://cryptonewsland.com/jpmorgan-predicts-limited-upside-for-crypto-markets/" rel="noopener noreferrer nofollow">JPMorgan Predicts Limited Upside for Crypto Markets</a></li> 
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 <li><a href="https://cryptonewsland.com/cryptocurrency-market-sell-off-with-13-and-13-5-losses/" rel="noopener noreferrer nofollow">XLM and XRP Lead Cryptocurrency Market Sell-Off with 13% and 13.5% Losses, Liquidations Reach $218 Million</a></li> 
 <li><a href="https://cryptonewsland.com/bitcoin-dominance-hits-2-year-high-as-altcoins-experience-steep-declines/" rel="noopener noreferrer nofollow">Bitcoin Dominance Hits 2-Year High as Altcoins Experience Steep Declines</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/bear-market-may-end-soon-despite-threats-of-further-sell-off-jpmorgan/">Bear Market May End Soon Despite Threats of Further Sell-Off: JPMorgan</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bear Market May End Soon Despite Threats of Further Sell-Off: JPMorgan

Crypto News Land

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