Summary
JPMorgan predicts that the bitcoin price will continue to decline due to decreasing enthusiasm for cryptocurrency ETFs. This could lead to lower token prices, trading volume, and revenue for firms like Coinbase.
Key Points
1. The bitcoin price is currently under pressure and has fallen below $40,000.
2. JPMorgan predicts that the enthusiasm for cryptocurrency ETFs could decline, leading to lower token prices, trading volume, and revenue opportunities for companies like Coinbase.
3. It is likely that these factors will contribute to a further deflation of the cryptocurrency market.