JPMorgan: Crypto market correction may be mainly due to retail investors selling Bitcoin and Ethereum ETFs
Jinse Finance reported that JPMorgan analysts stated that retail investors have sold approximately $4 billion worth of spot bitcoin and ethereum ETFs in November, which has been the main driver of the recent cryptocurrency market correction. Meanwhile, retail investors are buying stock ETFs, increasing their holdings by about $96 billion this month, indicating that the cryptocurrency sell-off is not part of a broader risk-off sentiment.
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