JPMorgan Remains Cautious on Bitcoin as Positive Catalysts Mostly Priced-In

Digital assets prices saw their biggest selloff since the 2022 FTX implosion earlier this week, mostly driven by contagion in traditional markets, with bitcoin falling more than 15% before rebounding somewhat, the bank’s analysts wrote. The selloff in crypto was mostly driven by retail investors, while momentum traders also contributed by exiting their long positions and building shorts, the bank said.