JP Morgan analysts are suggesting that BTC prices will continue to fall ahead of Bitcoin halving in April.
Analysts from a leading US financial institution, JP Morgan, have shared their views that the cryptocurrency Bitcoin has a probability of further price decline. This assessment started after Bitcoin marked its new highs at the beginning of this month but now has entered a downtrend.
Price Movement in Bitcoin During the Last Week
In the last week, the price of Bitcoin has decreased by approximately 5%, as per the data from investing.com. The analysts from JP Morgan believe that Bitcoin remains overbought, even after the significant drop down in the last few days.
They have considered the premium of futures prices to spot prices and current positioning in the futures markets to determine the overbought condition of the market.
Analysts have also observed a decline in the Bitcoin spot ETFs in addition to the overbought conditions. Net outflows in the BTC ETF have continu
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