Posted 3/22/2024, 10:00:00 PM
Bitcoin Price Slumps Amid Investor Outflows; JPMorgan Foresees Further Sell-Off Before Potential Recovery
- Bitcoin price dropping amid ongoing profit booking, with JPMorgan seeing further sell-off even after upcoming halving event
- Dump attributed to investor outflows, like $13B from GBTC spot BTC ETF year-to-date
- JPMorgan says BTC still overbought despite ongoing correction
- Halving out in 4 weeks, expected to kickstart next bull cycle but more selling seen thereafter
- Bitcoin could revisit support at $60,840 or liquidity sweep before potential recovery
