JPMorgan Expects Crypto Market to Face Weeks of Deleveraging – Warns Bitcoin Price Could Drop to $13K
Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000.JPMorgan Chase’s analysts, led by global market strategist Nikolaos Panigirtzoglou, provided their analysis of the FTX situation and a price prediction for bitcoin in a note Thursday.
The analysts explained that fewer players in the crypto space are now able to rescue weaker players, stating: What makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX more problematic is that the number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking.
Facing a liquidity crunch, FTX CEO Sam Bankman-Fried reportedly asked several major crypto exchanges, including Coinbase and Okx, for help. When they turned him down, he approached Binance despite CEO Changpeng Zhao stating that his exchange is
Well they crashed the economy in 08 so I guess they'd know what a down turn looks like
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Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX. cryptocurrency BTC
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Good to stay updated! BTC $BTC FTX
The firm’s analysts also predicted that the price of bitcoin could fall to $13,000.$BTC Bitcoin Crypto
Thanks for the news FTX cryptocurrency BTC
Bankman-Fried, who founded both firms, reportedly told investors that his company needs a cash injection to avoid having to file for bankruptcyBTC Crypto FTX
BTC is trading at $17,602, up 11% in the last 24 hours but down 13% in the past seven days.FTX $BTC BTC
At the moment, this production cost stands at $15,000, but it is likely to revisit the $13,000 low seen over the summer monthsCryptocurrency Bitcoin FTX
JPMorgan’s analysts use bitcoin’s production cost as a way of calibrating how much further the price of BTC can fall$BTC Crypto Bitcoin
The global investment bank warned that the crypto market could face weeks of deleveraging stemming from the crisis at FTX, noting that a period of upheaval could drive the price of BTC down to $13K Crypto $BTC Bitcoin
JPMorgan cautioned that a “cascade of margin calls” is likely underway given the interplay between Alameda Research, and the rest of the crypto ecosystem.Bitcoin FTX Crypto
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Will it? I am not convinced yet. Cryptocurrency bitcoin YellowArmy
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Media should talk about this. Annex Swapping
Well, it's not a cryptocrash, it's only a company that was not good at handling its funds. bitcoin FTX
No worries! I strongly believe this is not the end. BTC CryptoUpdate
Silently watching ! CryptoPrice BitcoinNews
The new phase of crypto deleveraging. CryptoUpdate
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As I expected. CryptoTalk Cryptocurrency
I bet it might be a great entry point. NFTCommunity BTC
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Yep! Though the situation is not favorable, there is no doubt that it gonna create massive positive impact in the coming days. BitcoinNews Crypto
Whatever it's happening, may effect the market, but I do believe in crypto and its potential. bitcoin HOD
🧐 JPMorgan FTX bitcoin cryptocurrency
True.
The wave tends to weaken
That would be a good entry point to spend all my usdt on btc purchase
...this is WHAT they HOPE happens!!! ⚡️🍊💊
its good our funds of kucoin is safu
Coz he want to wipe out the people's coins then sell back to them
A hard buy indicator if I've ever seen one.
Why are they bothered
ITS older IT comes in His years
FUD
Lets see if that happens. Get ready to load up your bags lads
Dont threaten me with a good time..
چی پی مورگان قیمت نفت هم ۱۲۰ دلار پیش بینی کرده بود ولی الان قیمت نفت چنده ؟؟؟😂
We need to make some FUD so the price stays low while we fill our boots.
what they're really saying is expect a lot of people to be cashing out for the holidays. like i've always said. Christmas is my favorite time of year
Is there anythinggg likee it!!!
Over $3k in my Binance . Don’t joke with me
😂😂😂
Of course they do, so they can buy it all up at $13,000. Such BS. Manipulation at its best. What a bunch of crooks!!! Don’t fall for their crap. Buy $BTC and enjoy early retirement in 5 years!!!!
try $8k in coming months
what they're really saying is expect a lot of people to be cashing out for the holidays. like i've always said. Christmas is my favorite time if year
Bitcoin Bullish signal in
Haha
Bullish! 🐮
very late statement
Lol JP Morgan.
BOOM! Another winning signal today from ChiefraFba
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FTX fiasco threatens industry meltdown, 25% drop in bitcoin: JPMorganFinancial woes at Sam Bankman-Fried's company could trigger the collapse of other crypto players, and create a dearth of industry saviors. The ponzi scheme that crypto is should go to zero. If after seeing all this people still believe in this crap they are in a cult. Energy prices is the additional push this scam needs to go to down. “JPMorgan strategists” 🤣🤣🤣🤣
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