JPMorgan, in a recent research report, listed the first spot in the US Bitcoin (BTC) suggests that Bitcoin miners may experience a pause following the approval of exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC).
The bank’s analysts, Reginald Smith and Charles Pearce, expressed uncertainty about whether this announcement will trigger further rises in Bitcoin and mining stocks in the near term or whether investors will turn it into a “sell the news” event.
The total market value of miners in the bank’s coverage area has increased by 131% since the end of September. This growth is significantly higher than the 71% increase recorded in Bitcoin over the same period. As of yesterday, the total market cap of fourteen US-listed miners was approximately $17 billion.
Bitcoin mining stocks have surged significantly over the past three months, trading near record highs based on the bank’s proven reserves and four-year block reward revenue estimates. However, analysts are warning investors to seek more direct exposure to Bitcoin through an ETF. cryptocurrency He warns of potential selling pressure in the sector if they decide to exit their respective stocks.
Despite this, JPMorgan states that the ETF “does not directly impact the mining economy or change competitive dynamics.”
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!