JPMorgan Sees Limited Further Downside For Bitcoin With Grayscale’s GBTC Profit-Taking Now Over — Can BTC Retake $50,000?

Brenda Ngari

Grayscale's Bid for a Spot Bitcoin ETF Gains Momentum Amidst Talks with Banking Giants

Analysts from JPMorgan Chase think the downward pressure on Bitcoin’s price has been capped as profit-taking on the crypto investment vehicle, the Grayscale Bitcoin Trust (GBTC), has now likely concluded.

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JPMorgan Sees Limited Further Downside For Bitcoin With Grayscale’s GBTC Profit-Taking Now Over — Can BTC Retake $50,000?