JPMorgan stands by a bearish Bitcoin forecast post-halving, with a target of $42,000 due to high production costs and market overvaluation.
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Dimon believes investors are being overly optimistic with respect to the chances for an economic soft landing.
Recently, renowned trader Peter Brandt voiced criticism directed squarely at Ethereum (ETH), the second-largest crypto by market capitalization, denouncing it as a “junk coin” in a blunt assessment. Ethereum Faces Criticism Celebrated for his insights into financial markets, Peter Brandt spared no punches as he castigated Ethereum, arguing that it lacks the essential characteristics required […]
Dimon has been a consistent critic of the cryptocurrency over the years and his latest comments demonstrate nothing has changed despite the ongoing mainstream adoption of bitcoin in the form of ETFs in the U.S.
The new hire happens as digital asset markets are maturing and have become increasingly intertwined with traditional finance.
Analysts from JPMorgan believe the majority of “profit taking” from Grayscale’s Bitcoin Trust is now likely over, while U.S. Bitcoin funds have just recorded their biggest day of net outflows.
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.
JPMorgan begs CNBC to stop talking about "pet rock" BTC despite financial heavyweights seeing billions of dollars in spot Bitcoin ETF inflows.
Jamie Dimon's bank agreed to play a key role with BlackRock's proposed bitcoin ETF, just weeks after he told U.S. senators: "I've always been deeply opposed to crypto, bitcoin, etc."