JPMorgan Chase has highlighted three major catalysts that could drive crypto prices in the coming months: the Bitcoin halving, the Ethereum network upgrade, and the potential SEC approval of spot Ethereum ETFs.
The investment bank believes the Bitcoin halving event and Ethereum network upgrade are already priced into crypto markets. However, JPMorgan strategists see only a 50% probability of the SEC greenlighting spot Ethereum ETFs in May.
Recent data shows a resurgence in retail crypto trading activity, especially in Bitcoin, AI, and meme tokens. JPMorgan links this to anticipation of the aforementioned catalysts. The bank also cited improving quarterly Bitcoin purchase data from Block, PayPal, and Robinhood as signaling a reversal of previous selling pressure.
While the Bitcoin halving and Ethereum merge appear baked in, the big regulatory wildcard is the SEC’s Ethereum ETF decision. If approved, Ethereum prices could surge on a wave of new institutional inflows. If rejected, ETH could sink as hopes of mainstream adoption are dashed. For now, crypto markets seem cautiously optimistic as we head into spring.
