JPMorgan CEO Jamie Dimon’s Annual Letter: Interest Rates Could Go Far Higher Than Many Expect (Full Text)
Dimon believes investors are being overly optimistic with respect to the chances for an economic soft landing.
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Dimon believes investors are being overly optimistic with respect to the chances for an economic soft landing.
Staking platform Lido’s share in staked ether has continued to fall, reducing concerns about concentration in the Ethereum network, the report said.
The bitcoin production cost has historically acted as a lower boundary to the cryptocurrency’s price, the report said.
The price of bitcoin (BTC) has not been moving as closely in relation to flows in and out of the spot ETFs as it previously did, according to JPMorgan.
Increased retail activity comes ahead of the three main catalysts in the coming months: the bitcoin halving, the Dencun upgrade of the Ethereum blockchain and the potential approval of spot ether ETFs, the report said.
The bank’s survey of over 4,000 traders found that 78% of the participants do not plan to trade cryptocurrencies, while just 12% plan to do so in the next five years.
The new hire happens as digital asset markets are maturing and have become increasingly intertwined with traditional finance.
Around $1.3 billion has shifted from GBTC to new spot bitcoin ETFs, equivalent to a monthly outflow of about $3 billion per month, the bank said in a report.
Lawsuits against crypto exchanges offering staking services for proof-of-stake blockchains, including Ethereum, make approval of a spot ether ETF more challenging until these cases are resolved, the investment bank said.
The JPMorgan CEO said this will be the last time he airs his opinion on bitcoin.