JPMorgan says that the capital inflow brought by Bitcoin spot ETFs may have been exaggerated, and as of this year, the net inflow of funds into the crypto market brought by Bitcoin ETFs should be revised down to 12 billion U.S. dollars. Whether Bitcoin can continue to maintain this growth rate in the remaining time of this year is still a question mark.
(JPMorgan: Capital inflow into the crypto market revised down to 12 billion U.S. dollars this year)
(Bernstein: Bitcoin to rise to $200,000 by the end of 2025)
Bitcoin fell to a near one-month low of $65,068 around midnight on the 15th, rebounding to $66,193 at the time of writing, with a narrowing 1% decline in the past 24 hours.
Although the Fed’s expected rate cut has generally made the market optimistic about the future trend of Bitcoin, the recent weak trend has also caused concerns for some investors. At this moment, a report released by JPMorgan this Wednesday (12) expressed doubts about the exaggerated ability of Bitcoin spot ETFs to attract funds and whether more funds will flow into the crypto market this year.
(JPMorgan: Capital inflow into the crypto market revised down to 12 billion U.S. dollars this year)
According to JPMorgan’s report, led by analyst Nikolaos Panigirtzoglou, a significant amount of funds has flowed into the cryptocurrency market so far this year due to the existence of Bitcoin spot ETFs. However, not all of these inflows represent new funds entering the market.
(Bernstein: Bitcoin to rise to $200,000 by the end of 2025)
JPMorgan also pointed out that there is still a question mark as to whether Bitcoin can maintain this level of fund attraction. It is understood that JPMorgan recently raised Bitcoin’s production cost from the previous $42,000 to $45,000.
(Bernstein: Bitcoin to rise to $200,000 by the end of 2025)
However, in contrast to JPMorgan’s view, the top U.S. financial advisory firm Bernstein has once again raised their previous prediction, increasing the possible price of Bitcoin by the end of 2025 from $150,000 to $200,000, and even predicting that Bitcoin reaching $1 million by 2033 is not impossible.