JPMorgan Chase: Cryptocurrency and asset prices are expected to become more sensitive to macro factors

JPMorgan Chase (JPM) said in a research note on Friday that as of the end of last month, the total market value of the cryptocurrency market was $2.02 trillion, down 24% from its peak in March, and said the market is waiting for the next catalyst and "enhanced retail participation." The analyst team led by Kenneth Worthington said "Overall, we still believe that the crypto ecosystem lacks major catalysts, so we expect crypto tokens and asset prices to become more sensitive to macro factors." (Coindesk)