JP Morgan Chase: Maintain a cautious stance on cryptocurrencies in the short term
2024-05-02 12:46:15
JPMorgan analysts led by Nikolaos Panigirtzoglou said they were maintaining a "cautious" stance on cryptocurrencies in the short term due to the lack of a positive market catalyst and a drop in retail investor interest. Analysts said there has been "a lot" of selling or profit taking in the cryptocurrency market over the past two weeks, with retail investors likely playing a bigger role than institutional investors. In addition, net inflows into equity funds turned negative in April following strong buying in February and March.
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