According to ChainCatcher, JPMorgan analysts said in their latest report that they are optimistic about digital assets in 2025, mainly due to the rise of "depreciation trading". As geopolitical tensions intensify and the US election approaches, investors may turn to gold and Bitcoin to hedge against economic instability. The report also mentioned that the approval of the spot Bitcoin ETF, the near completion of the bankruptcy liquidation of the crypto market, and the possible return of FTX's bankrupt cash will all drive the growth of the digital asset market.