[JPMorgan Chase: The cryptocurrency market has limited downside in the short term, and the liquidation of long positions is nearing completion 😉 ]

Hello everyone! The recent developments in the cryptocurrency market can be described as confusing and confusing. However, a recent report from JPMorgan Chase has brought a glimmer of light, pointing out that the cryptocurrency market has limited downside in the short term. Does this mean we are one step closer to a bull market?

According to the report, this judgment is mainly based on the fact that the closing of long positions in CME Group’s Bitcoin futures is almost complete, rather than at the beginning. In other words, the market’s wave of liquidation of long positions has come to an end, and the downward pressure on the cryptocurrency market will decrease in the short term.

It is worth mentioning that the positive news in the market has gradually faded in recent weeks, which is one of the reasons for the wave of liquidation of long positions. Additionally, news of SpaceX selling its Bitcoin holdings also acted as a catalyst, further prompting the liquidation of long positions.

So, will JP Morgan’s prediction come true? We'll see! During this period, everyone is welcome to express your views on the cryptocurrency market in the comment area. Maybe your views will become the next market vane!