JPMorgan: Crypto Slump Nearing Bottom as ETF Outflows Slow
JPMorgan's latest flow and positioning analysis suggests the recent crypto market pullback may be approaching a bottom as ETF outflows slow. The bank points to subdued ETF redemptions alongside shifting futures and options positioning that together indicate reduced selling pressure and early stabilization across both spot ETF and derivatives markets.
Why this matters: slowing outflows can remove a key source of downside pressure and open a window for renewed inflows, which could help temper volatility and support price recovery. Traders and investors should watch ETF flows, futures open interest and options skew for confirmation, while remaining mindful that macro and regulatory risks could still spark further moves. JPMorgan frames these signals as an initial inflection rather than a definitive turn, but the data provide a constructive case for cautious optimism.