According to bank analysts, the view of Bitcoin as the most profitable inflation hedge continues to attract significant inflows into spot BTC-ETF. This is the most important factor in the continued dominance of the asset, experts declared.
JPMorgan believes that the decision to create a strategic reserve of bitcoins in the United States could strengthen the position of the first cryptocurrency, as well as advances in second-layer solutions for the Bitcoin network that could challenge platforms such as Ethereum.
At the same time, experts noted, pending legislative clarity from the new US presidential administration, the cryptocurrency market remains in a consolidation phase. The bank’s analysts did not rule out a delay in the phase, since, most likely, the American authorities will first solve other, more important problems.
Earlier, JPMorgan analysts indicated that the inflow of funds into spot ETFs for the SOL and XRP cryptocurrencies could exceed the inflow of funds into ETFs for ETH in the first six months of their existence.
Source: Bits
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