In the latest research report, financial giant JPMorgan Chase & Co. has recently shared its belief in Bitcoin and the crypto market. Bloomberg reported, citing data from the financial services firm, that the current downtrend phase in the crypto market might just be nearing its conclusion.

Notably, the deceleration in the market momentum, primarily attributed to a series of positive legal and regulatory developments that eventually lost steam, is in its last stretch, according to the banking institution.

Market Dynamics And Future Predictions

JPMorgan’s analyst, Nikolaos Panigirtzoglou, analyzed the situation and highlighted the diminishing open interest in the Chicago Mercantile Exchange (CME) Bitcoin futures contracts.

In the financial realm, when open interest, which reflects …