Though growth in the market has been stagnant for a long time, analysts have predicted how crypto liquidations could end soon, bringing positive signs.
The crypto market has seen several days of low volatility in the last few days. While BTC has stuck to a range above $26000, it hasn’t seen a long rally. Federal Reserve Chair Jerome Powell claimed they had not controlled inflation fully. At such a time, JP Morgan has released a bullish report on the crypto market. They stated how crypto liquidations could soon see an end.
The firm suggests how selling pressures could slow down. The decline in such trends could spell optimism for bulls in the market. They implied how the market could still see legal and regulatory uncertainties. But despite such hurdles, they reported how BTC could start generating positive interest soon.
The market has shown flat trends over the weekend. Its narrow trading range is still prevalent. Although its $1 trillion market cap is steady, its movements are broadly tight.
On the other hand, Bitcoin’s market cap is fixated at $507 billion. Tokens like Dogecoin, Solana, XRP, and Cardano saw gains in the last 24 hours. Meanwhile, those like ETH saw some losses.
BTC/USD 1D price chart
Bitcoin is currently trading at around $26000 on August 27, 2023, with BTC/USD trading lower by 0.1% in the last 24 hours. BTC/USD is trading lower than its 20-day EMA (28,254.14) as BTC’s 24-hour volume decreased to around $5.8 billion. Bitcoin has seen around 57.16% returns on a year-to-date basis.