JPMorgan forecasts limited downside for crypto markets: Report
The cryptocurrency market’s recent downtrend appears to be coming to an end, as JPMorgan’s latest research suggests that most long-position liquidations have been completed.
According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends.
Bitcoin’s open interest decline is seen as a sign that the current price trend could be weakening, according to analysts. “As a result, we see limited downside for crypto markets over the near term.”
Crypto prices have been on the downtrend in recent weeks due to declining optimism around regulatory developments in the United States, notes the report. On Aug. 26, Bitcoin is trading close to $26,000, down 11.27% over the past 30 days, according to Cointelegraph Markets.
Positive developments in the previous months boosted Bitcoin’s price. Among them were a series of applications for the first U.S. exchange-traded funds (ETFs) linked to Bitcoin’s spot price. The list of players waiting for regulatory approval includes BlackRock, Fidelity, ARK Investments and 21Shares, as well as several other asset managers.
Ripple Labs’ partial victory against the United States Securities and Exchange Commission (SEC) was another positive development. However, this optimism is gradually fading, notes the analysis, as traders await Bitcoin ETF decisions and the SEC’s appeal against Ripple brings renewed uncertainty.
The scenario contributes to a “new round of legal uncertainty” for crypto markets, making them sensitive to future developments, according to JPMorgan’s team. External market conditions also played a role in the crypto market’s decline, including the rising U.S. real yields, and concerns about China’s economic growth.
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The comments from European Central Bank head Christine Lagarde drew overwhelming backlash from the crypto community and political influencers.
BNM’s tokenization roadmap aims to focus on real-world use cases such as SME supply chain financing, Shariah-compliant Islamic products, green finance and 24/7 cross-border payments.
A Reform UK councillor has defected to the Tories after becoming “uncomfortable” with Nigel Farage’s party.
James Buchan said he wanted to be able to “look my family in the eye and say, ‘that’s not who I am'” after his former party announced plans to scrap indefinite leave to remain.
The Dartford Borough councillor, who won his seat for Reform in a by-election in July, said the policy creates a “huge amount of fear and anxiety”.
He also accused the party of having “a pretty unfortunate way of treating people”.
Read more: What is indefinite leave to remain?
James Buchan. Pic: Dartford Borough Council
In a statement, Mr Buchan said: “I stood for election with the sole aim of working for my community and getting things done for local families.
“Having had the opportunity to see Reform from the inside, I’ve concluded that the party doesn’t really have the experience or ambition to do that.”
He said “relying on rhetoric and slogans isn’t going to help real families in communities” like his and “the more I saw of Reform UK, the more uncomfortable I felt to be part of it”.
“Things like a proposal to remove indefinite leave to remain from all non-EU residents who are working here perfectly legally is an example that could be devastating for decent people who have built a life here and contribute to our country,” he added.
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Earlier this year Reform announced it would axe indefinite leave to remain and replace it with new visas that would require migrants to reapply to live in the UK as part of plans to tighten immigration.
Conservative council leader Jeremy Kite welcomed Mr Buchan, who represents the Stone House ward, to the party.
“James knows that getting elected isn’t about power, it’s about service and being supportive of people,” he said.
A Reform source told the PA news agency: “He got elected in July 2025 as a Reform councillor. He should resign his seat but he won’t because he knows he will lose under the Tory banner.
“We look forward to winning this seat back as soon as possible.”
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