10 months ago
Crypto Market Faces Weak Demand, Needs Trump Initiatives to Kick In, JPMorgan Says
JPMorgan reports weaker demand in the cryptocurrency market, shown by bitcoin and ether futures trading near backwardation. Backwardation happens when the current price of an asset is higher than its future price, suggesting lower demand from institutional investors using regulated futures contracts. Normally, stronger demand leads to futures prices being higher than the current price (contango). JPMorgan attributes this weakness to a lack of short-term positive influences, anticipating potential positive impacts from the Trump administration later in the year. They also note lower demand from systematic and momentum-driven funds affecting bitcoin and ether futures.
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