JPMorgan Chase has highlighted three major catalysts that could drive crypto prices in the coming months: the itcoin">Bitcoin halving, the Ethereum network upgrade, and the potential SEC approval of spot Ethereum ETFs.
The investment bank believes the itcoin">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 itcoin">Bitcoin, AI, and meme tokens. JPMorgan links this to anticipation of the aforementioned catalysts. The bank also cited improving quarterly itcoin">Bitcoin purchase data from Block, PayPal, and Robinhood as signaling a reversal of previous selling pressure.
While the itcoin">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.
