JPMorgan Says $50 Billion Has Flowed Into Crypto Market This Year, Sees Positive Q4 Momentum
JH Kim
Summary
- JPMorgan said it estimates that about $50 billion has flowed into the cryptocurrency market this year.
- It said stronger ETF inflows in the third quarter and an expansion in futures market positions were the main drivers.
- It added that those trends are expected to support positive momentum in the cryptocurrency market in the fourth quarter as well.
Forecast Trend Report by Period
About $50 billion is estimated to have flowed into the cryptocurrency market this year. JPMorgan said stronger exchange-traded fund inflows and a buildup in futures positions during the third quarter could also support the market in the fourth quarter.
Cointelegraph reported on October 13 that JPMorgan estimates roughly $50 billion has entered the crypto market since the start of the year.
The bank cited stronger ETF inflows in the third quarter and expanding positions in the futures market as the main drivers.
It added that those trends are expected to support positive momentum in the cryptocurrency market in the fourth quarter as well.
JH Kim
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