From Chicago Mercantile Exchange To Elon Musk: Factors Shaping Bitcoin’s Fate

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JPMorgan Chase &. Co. (NYSE: JPM) analysts say the decline in long positions in the Chicago Mercantile Exchange’s (CME) Bitcoin (CRYPTO: BTC) futures might be nearing its conclusion. The analysts focused on open interest, which denotes the total number of unsettled derivative contracts like futures or options. Under the helm of managing director Nikolaos Panigirtzoglou, the JPMorgan team sees “limited downside for crypto markets over the near term.” This month’s crypto market downturn was partially due to a wider correction in risk assets, especially tech stocks, they explained. Also Read: Cry…

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