Home > Crypto in a Minute > JP Morgan Bearish Phase Nears End >

JP Morgan Bearish Phase Nears End

Author: Jeffrey Craig Date: July 22, 2022


Main Takeaway: Leaving May & June In The Dust

The crypto markets are up once again, clocking in a 3% return d-o-d and brushing off concerns over Tesla’s sale of Bitcoin. The last two work weeks have ended in the green, only to be halted by a volatile weekend. Next week the US Fed will be determining its next rate hike, so that’ll be the main indicator to watch over the coming five days. The markets are praying that July will post higher lows and reverse the downtrend in crypto.

Key Stories: JP Morgan Says The Worst Of May & June Are Over

JP Morgan recently made two claims, first that despite a volatile past few weeks and news of Tesla selling, retail crypto investors seem to be having a rise in interest. This is bullish as the markets are getting hammered by institutional leverage, selling, and miner capitulation. At the end of the day, retail investors are the biggest and most important factor for long-term cryptocurrency adoption and growth.

Secondly, JP Morgan said the intense deleveraging phase seems to be over, as those who were exposed are now gone, and those who were forced to sell have sold. Main takeaway is let’s see how the next week performs to verify this bullish news.

Today’s Top Gainers

The top five coins on Phemex are Lumerin (LMR/USDT), Curve Finance (CRV/USDT), Optimism (OP/USDT), ApeCoin (APE/USDT), and Kusama (KSM/USDT).

For any inquiries contact us at support@phemex.zendesk.com
Follow our official Twitter | Join our community on Telegram
Trade crypto on the go: Download for iOS | Download for Android
Phemex | Break Through, Break Free
start trading start trading start trading

Register On Phemex Now To Begin Trading

Register On Phemex

More Articles

DOGE Soars On Twitter Payments Potential

DOGE Soars On Twitter Payments Potential

Jeffrey Craig | November 28, 2022

MetaMask & Infura’s New Data Policy

MetaMask & Infura’s New Data Policy

Jeffrey Craig | November 25, 2022

Fed Minutes Sends Conflicting Signals

Fed Minutes Sends Conflicting Signals

Jeffrey Craig | November 24, 2022

JP Morgan Crypto Wallet

JP Morgan Crypto Wallet

Jeffrey Craig | November 23, 2022

Subscribe Phemex

Get The Latest News And Updates From Phemex!

Get The Latest News & Updates!