JPMorgan predicts a recovery in the crypto market starting in August, but lowers its annual net flow forecasts from $12 billion to $8 billion. 📉

The bank's analysts suggested in a research note that liquidations in the crypto market should begin to decline this month. Bitcoin is trading around $57,330, down 13% from a month ago.

The main reasons for the decline were miner sales after the block reward was halved and sales by the German government.

JPMorgan cuts net flow estimates

JPMorgan analysts said in a note to investors that liquidations are likely to ease significantly by the end of July. After this, Bitcoin and the entire crypto market can begin to grow.

However, JPMorgan revised its net flow estimates down to $8 billion, having expressed doubts about its previous forecast of $12 billion.