JPMorgan Chase: Crypto market faces weak demand, Trump's proactive measures may boost market

According to BlockBeats, on February 21st, JPMorgan Chase stated in a report on Wednesday that the cryptocurrency market lacks a positive catalyst in the short term. In recent months, Bitcoin and Ethereum futures have approached spot premiums, which is a sign of declining demand. The analyst team led by Nikolaos Panigirtzoglou stated, "This is a negative development that indicates weak demand from institutional investors who use regulated CME futures contracts to gain exposure to these two cryptocurrencies." Weak demand may be due to the Trump administration's positive cryptocurrency measures being more likely to be implemented in the second half of the year, meaning institutional investors may take profits due to a lack of short-term catalysts. JPMorgan Chase added that the decline in demand for systematic and momentum driven funds such as CTA has also affected Bitcoin and Ethereum futures. (Golden Ten)