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After the approval, Bitcoins traded sideways for some time before marking a slight correction, leading to diverse predictions from market analysts on the growth of the U.S.-listed Bitcoin ETFs saw a significant shift on Thursday as investors pulled out $400.7 millionthe third-largest outflow since their launch, according to Farside. Key Points: -Persistent outflows from Grayscale's Bitcoin Trust (GBTC) chip away at overall inflows, painting a more subdued picture of investor demand. -Disappointing Financial giant JPMorgan says that Bitcoin’s (BTC) ETF demand has been overstated by 2X. The bank believes that not all inflows represent fresh money entering the Financial giant JPMorgan says that Bitcoin’s (BTC) ETF demand has been overstated by 2X. The bank believes that not all inflows represent fresh money entering the crypto space. The bank JPMorgan strategists warn that Bitcoin is overbought, aligning with their earlier forecast of downward movement before April's halving event. Bitcoin ETFs three-days Now, analysts at Wall Street giant JPMorgan have predicted the outflows from Grayscale's converted spot bitcoin ETF (GBTC) are largely behind us, signalling an end JPMorgan says bitcoin remains overbought. Spot ETFs witnessed a significant outflow in the past week. Bitcoin profit-taking could continue into the halving event Bitcoin underwent a sharp correction last week before rebounding this week, but it still remains in overbought territory, according to JPMorgan analysts, suggesting that

Bitcoin ETF Figures Overstated? JPMorgan Warns of Potential Correction

Are Bitcoin ETFs living up to the hype? Financial giant JPMorgan is suggesting that the figures may be overstated, potentially leading to a market correction. This comes after a significant shift in U.S.-listed Bitcoin ETFs on Thursday, as investors pulled out $400.7 million – the third-largest outflow since their launch, according to Farside. This raises questions about the true level of investor demand and the long-term sustainability of current valuations.

JPMorgan: Bitcoin ETF Demand Overestimated by 2X

JPMorgan analysts believe Bitcoin's (BTC) ETF demand has been overstated by 2X. Their core argument is that not all inflows represent fresh money entering the crypto space. Instead, a portion may be from existing crypto holders shifting assets, artificially inflating the perceived demand for these investment vehicles. This echoes concerns about Grayscale's Bitcoin Trust (GBTC) and its impact on the overall picture.

Grayscale's GBTC Outflows Continue to Impact Overall Inflows

Persistent outflows from Grayscale's Bitcoin Trust (GBTC) continue to chip away at overall inflows, painting a more subdued picture of true investor demand. While some anticipated these outflows would diminish, they remain a factor weighing on the Bitcoin ETF market's overall performance. JPMorgan strategists have predicted the outflows from GBTC are largely behind us, but the impact is still felt.

Bitcoin Overbought: JPMorgan Predicts Downward Movement

Adding to the cautious outlook, JPMorgan also says bitcoin remains overbought. Bitcoin underwent a sharp correction last week before rebounding this week, but it still remains in overbought territory, according to JPMorgan analysts, suggesting that profit-taking could continue into the halving event. This aligns with their earlier forecast of downward movement before April's halving event and suggests that further correction is possible.

Bitcoin ETFs Face Outflows and Sideways Trading

After the approval of Spot ETFs, Bitcoin traded sideways for some time before marking a slight correction, leading to diverse predictions from market analysts. The recent Spot ETFs witnessed a significant outflow in the past week, contributing to the uncertainty. While the long-term potential of Bitcoin ETFs remains a topic of debate, JPMorgan's analysis highlights the need for a more nuanced understanding of the underlying dynamics driving the market. The question remains: is the initial enthusiasm sustainable, or will a more significant correction occur?

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