Frenzy Alert, JPMorgan's Bitcoin Retail Sentiment Index Hits All-Time High

As BTC surpassed the $93,000 mark last week and inflows to U.S. spot ETFs and cryptocurrency stocks increased, JPMorgan's retail sentiment score rose to a record 4. The measure is designed to gauge retail investors' sentiment towards cryptocurrencies, particularly bitcoin, based on activity in the BTC product family, including spot ETFs.

"Within the ETF space, demand for Bitcoin ETFs was particularly strong (IBIT +3.4z) following the election results. The demand for Bitcoin was also reflected in COIN (+6z). In fact, its sentiment score for the Bitcoin family (both for physical ETFs and others) soared to a multi-sigma high," the JPMorgan equity research team said in a client note last week, which analyzed the imbalance in retail orders.

A z-score of 3.4 or higher indicates a substantial and positive deviation from the average, indicating strong demand.

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