JPMorgan Chase: The recent sell-off in the crypto market may be nearing its end.

A recent report from JPMorgan Chase suggests that the recent sell-off in the crypto market may be nearing its end. Analyst Nikolaos Panigirtzoglou stated that outflows from Bitcoin and Ethereum ETFs began to stabilize in January, and futures market positioning indicators also suggest that investor reduction efforts by the end of 2025 have largely been completed. JPMorgan Chase believes that market liquidity remains good, and this round of adjustments was primarily driven by de-risking triggered by MSCI's October statement regarding the potential exclusion of crypto-related companies, rather than market pressure. MSCI's recent decision not to exclude cryptocurrency-related companies from its February 2026 global equity index review provides short-term relief to the market and reduces the risk of forced selling associated with index changes.