Global investment banking giant JPMorgan Chase (NYSE: JPM) anticipates a reduction in crypto liquidations this month, signaling a potential market recovery beginning in August.
The firm’s recent research report highlights a significant revision in year-to-date crypto net flow estimates, from $12 billion to $8 billion, providing crucial insights for investors and traders.
This adjustment reflects significant liquidations by creditors of the now-defunct Mt. Gox exchange and Gemini creditors, as well as sales by the German government of seized Bitcoin (BTC) assets.
BTC 7-day price chart. Source: Finbold
This price movement indicates a cooling off in selling pressure as the German government completes its liquidations. he aggressive buying by whales, driven by the price drop and inflow rates from Bitcoin ETFs, signals rising demand and a potential upward trend.
Investors and traders should closely monitor these developments as the market prepares for a potential upswing.
With strategic planning and informed decision-making, this anticipated recovery could offer significant opportunities for those invested in the cryptocurrency market.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
