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JPMorgan analysts warn that the crypto industry faces a potential downspell amid lower demand for top assets like Bitcoin and Ethereum. The leading cryptocurrency by market cap, BTC, is down over 6% in the past month. For ETH, the coin is down by nearly 18%. Despite the bullish market sentiment, not many cryptocurrencies have excelled on 2024 levels in 2025 thus far. Thus, JPMorgan fears that the 2025 crypto boom may not hit as hard as projected. The total crypto market cap has declined by 15% from its record high of $3.72 trillion on Dec. 17 to around $3.17 trillion, marking a significant correction. JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, say a lack of positive catalysts and fading momentum drive lower demand for crypto futures. Specifically, CME bitcoin and ether futures are nearing “backwardation”: where futures prices fall below spot prices, mirroring last June and July, the analysts wrote. “This is a negative development and indicativ...

As per Eric Balchunas, a Bloomberg senior ETF analyst, Valkyrie has issued a 497, declaring that they won’t be buying any more Ethereum futures . Balchunas speculates that the United States Securities and Exchange Commission (SEC) might have influenced their decision to halt these purchases. The plot thickens, Valkyrie just put out 497 that they are in fact not going to buy Ether futures until they are live (prob Tue) and are going to sell the Eth futures they bought (in an effort to jump line a bit). SEC must have threatened them to cut it out. Damn. https://t.co/yDkggCw3d1 pic.twitter.com/cKaV7k7AJs — Eric Balchunas (@EricBalchunas) September 29, 2023 According to reports on Sep. 28, the Valkyrie Bitcoin Strategy exchange-traded fund (ETF) was reported to be adding exposure to Ethereum futures contracts, becoming the first American ETF to offer holders exposure to Ethereum and Bitcoin futures in one package.  Valkyrie was also the first company to receive appro...

Bloomberg analyst Eric Balchunas speculated the SEC may have applied pressure on Valkyrie to halt purchases of ETH futures contracts until the ETF was officially approved. Asset management firm Valkyrie has said it will hold out for the United States Securities and Exchange Commission (SEC) to approve an exchange-traded fund, or ETF, with exposure to Ether (ETH) futures rather than making purchases in advance. In a Sept. 29 filing with the SEC, Valkyrie said it will not make certain purchases “until the effectiveness of an amendment” reflecting ETH futures contracts as the ETF’s principal investment strategy. The firm told Cointelegraph on Sept. 28 that it planned to allow investors exposure to Ether and Bitcoin (BTC) under a combined Bitcoin and Ether Strategy ETF, with purchases planned ahead of a launch the first week of October. ‘[T]he Fund will unwind any existing positions in ether futures contracts,” said the SEC filing. The plot thickens, Valkyrie just put out 497 that they...

Ethereum futures exchange-traded funds (ETFs) may launch next week, just before a potential U.S. Government shutdown, Bloomberg analysts note. On Sep. 28, Bloomberg Intelligence analyst James Seyffart revealed on X (formerly known as Twitter) that the U.S. Securities and Exchange Commission (SEC) might greenlight several Ethereum futures ETFs as early as next week. Looking like the SEC is gonna let a bunch #Ethereum futures ETFs go next week potentially https://t.co/YoBD1d1ay8 — James Seyffart (@JSeyff) September 28, 2023 Seyffart’s remarks came in response to fellow ETF analyst Eric Balchunas, who suggested that the SEC is keen to fast track approval. Balchunas added that the SEC aims to clear the Ether futures ETFs from its agenda before the potential U.S. government shutdown. He mentioned that various filers have been advised to update their documents by Friday afternoon to enable trading by Tuesday of the following week. The U.S. government might shut down at ...

The BTC Volatility Index’s reading has been hovering around its lowest point since 2021. This index measures the implied volatility of the largest crypto asset. Simplistically, it gauges the view on volatility perceived by Bitcoin traders for the next 30 days. The current state of this metric points out that traders expect the current impassive state of affairs to prolong. Source: The Block Amid the lackluster conditions, centralized exchanges have recorded the second-lowest volume since 2021. According to a recent research report by CCData, “The combined Spot and derivatives trading volume fell 12% to $2.36 trillion. This was the second-lowest combined volume on centralized exchanges since December 2020, only eclipsed only by December 2022.” As far as the breakdown is concerned, Spot trading volumes on CEXes dropped by 10.5% to $515 billion, the second-lowest volume recorded since March 2019. Meanwhile, derivatives volumes shrunk by 12.7% to $1.85 trillio...

The failed rally above $2,000 on May 6 has proven that ETH bulls are nowhere near comfortable adding leveraged longs. After a brief overshoot above $2,000 on May 6, the Ether (ETH) price has returned to the tight range between $1,820 and $1,950, which has been the norm for the past three weeks. According to the latest Ether futures and options data, odds favor the Ether price breaking below the $1,820 support as professional traders have been unwilling to add neutral-to-bullish positions using derivatives contracts. Ether price in USD, 12-hour chart. Source: TradingView Not even the memecoin frenzy that has boosted Ethereum network demand was able to instill confidence in investors. The average Ethereum transaction fee skyrocketed to $27.70 on May 6, the highest in 12 months, according to BitInfoCharts data. As reported by Cointelegraph, one of the main drivers behind the increase was the insatiable demand for Pepe (PEPE), among other memecoins. Moreover, the increased gas fees have...

The regulated Bitcoin futures index is reportedly a first in Latin America and is set to debut in May. The securities regulator of Argentina has approved a Bitcoin-based futures index set to debut on the Matba Rofex exchange. The Bitcoin futures contract will start trading in May and the exchange claimed it will be the first regulated Bitcoin futures in Latin America. The National Commission Of Value (CNV), the country's securities regulator, approved the Bitcoin (BTC) futures index as part of a strategic innovation agenda. The innovation agenda launched in the first quarter of 2022 is focused on creating a space for public-private collaboration aimed at creating new and creative products in the capital market. The Bitcoin futures contract will be based on the price of BTC provided by various entities in the nation offering BTC/ARS trading pairs. All trades will be settled in the national fiat currency and traders will be required to deposit Argentine pesos through bank transfer...