JPMorgan stated that the capital inflows brought by Bitcoin spot ETFs may have been exaggerated. Up to now this year, the net inflow of capital into the crypto market brought by Bitcoin ETFs should be revised down to $12 billion, and whether Bitcoin can continue to maintain this growth rate in the rest of the year remains a question mark.
JPMorgan: Crypto market capital inflows revised down to $12 billion this year
Bitcoin inflows may be difficult to sustain
Bernstein: Bitcoin to rise to $200,000 by the end of 2025
Bitcoin fell to a low of $65,068 around midnight on the 15th, reaching its lowest point in nearly a month. It has since rebounded to $66,193 and the 24-hour drop has narrowed to 1%.
Although the Fed’s expected rate cut has generally made the market optimistic about the future of Bitcoin, the recent weak trend has also raised concerns for some investors. At this moment, in a report released by JPMorgan this Wednesday (12), it was stated that the fundraising ability of Bitcoin spot ETFs has been exaggerated, and there are doubts about whether there will be more capital inflows into the crypto market this year.
JPMorgan: Crypto market capital inflows revised down to $12 billion this year
According to a report from JPMorgan, led by analyst Nikolaos Panigirtzoglou, there has indeed been a significant inflow of funds into the cryptocurrency market so far this year due to the existence of Bitcoin spot ETFs. However, not all of these inflows represent new capital entering the market.
Bitcoin inflows may be difficult to sustain
Furthermore, JPMorgan continues to point out that there is still a question mark over whether Bitcoin can maintain this level of fundraising appeal. It is understood that JPMorgan recently raised the production cost of Bitcoin from the previous $42,000 to $45,000 last month.
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 potential price of Bitcoin at the end of 2025 from $150,000 to $200,000, and even predicting that Bitcoin could reach $1 million by 2033.