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CryptoIntelligence 2024-03-25 17:30:00

Bitcoin Faces Sharp Decline Amid Slowing ETF Demand, JPMorgan Warns of Further Losses Ahead of Halving Event

Bitcoin Faces Sharp Decline Amid Slowing ETF Demand, JPMorgan Warns of Further Losses Ahead of Halving Event

Bitcoin has recently experienced a significant pullback, dropping over 10% from its all-time high, amidst signs of slowing demand for spot Bitcoin exchange-traded funds (ETFs). Bloomberg reported on Friday that analysts from JPMorgan Chase and Co. are cautioning that this downward trend could continue. This sentiment is reflected in the substantial outflows from a group of 10 spot Bitcoin ETFs, marking the largest four-day withdrawal since these products were launched on January 11. As it stands, Bitcoin is navigating through one of its most challenging weeks this year, with a 4% decrease in value, and is currently trading at approximately

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