JPMorgan: Crypto Rally Overdone, Bitcoin ETFs Unlikely to Attract Major New Investments
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JPMorgan says the recent crypto rally is overdone and unfounded.
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Possible US bitcoin spot ETFs won't bring significant new capital.
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Existing bitcoin products may just shift into ETFs, not new money.
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SEC approval of spot ETFs doesn't signal major crypto regulation reversal.
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Upcoming bitcoin halving is already priced into the current bitcoin price level.