JPMorgan Remains Cautious on Bitcoin as Positive Catalysts Mostly Priced-In
Retail investors seems to have played large role in recent crypto selloff that saw sharpest correction since FTX, the bank said.
Analysts
Coinbase’s ‘Solid’ Earnings May Get Derailed by Low Volume, Fed Headwinds, Analysts Say
The company reported better-than-expected second-quarter earnings on Thursday but saw a strong downtick in revenue from transaction fees, its main source of income.
Bitcoin Miners Have Considerable Upside From Their Power Portfolios: Bernstein
Investors can benefit by valuing miners’ assets as efficient power shells with data center capabilities, as opposed to just bitcoin mining operations, the report said.
Bitcoin Mining Cost Drops to $45K as Inefficient Miners Exit: JPMorgan
The bank sees limited upside for the bitcoin price in the near term due to a number of headwinds.
Bitcoin Could Drop Further to as Low as $50K, Standard Chartered Says
The cryptocurrency is now trading below the average spot ETF purchase price of about $58K, and this could trigger liquidations, the report said.
Ether ETFs Are Unlikely to Be Approved in May: Standard Chartered
The bank reiterated its year-end bitcoin and ether targets of $150,000 and $8,000, respectively.
Bitcoin Miner Bitdeer Is ‘Differentiated’ From Peers, Shares Are Cheap: Benchmark
Stock appears undervalued given the wide gap between the company’s valuation and its growth prospects, the report said.
Bitcoin Soared to an All-Time High. So Why Aren’t Miners Blasting Off, Too?
Investors are pouring money into spot ETFs while avoiding miners due to risks related to Bitcoin’s halving event.
Bitcoin Could Slide to $42K After Halving Hype Subsides, JPMorgan Says
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency’s price, the report said.
Ether’s Bitcoin Beating Rally Not Just Because of Potential ETF Approval: Bernstein
The amount of ether held on exchanges is at an all-time low of 11%, a sign that more of the cryptocurrency is being locked up for DeFi, the report said.