🔔 Breaking News Alert! 🔔
According to a recent report from investment giant JPMorgan Chase, Bitcoin finds itself in the overbought territory, signaling potential downside risks. Despite a slight improvement in Bitcoin's position on Thursday, the cryptocurrency saw a dip to $64,808 by Friday.
Analysts at JPMorgan predict that pressure on Bitcoin could intensify in the coming days, with the possibility of the price dropping below $50,000 if selling activity escalates. Even after the halving event, pressure is expected to persist and could potentially drive the digital currency's price down to $42,000.
Nikolaos Panigirtzoglou, head of research at JPMorgan, highlighted that futures prices are currently higher than spot prices, indicating that the asset may be overbought.
Stay informed and stay ahead of the market trends! 📉💡