JPMorgan: Retail Investors Selling ETFs is the Main Reason for the Price Drop of Bitcoin and Ethereum

According to The Block, JPMorgan's latest analysis report shows that the ongoing adjustment in the crypto market is primarily driven by retail investors selling Bitcoin and Ethereum ETFs, rather than crypto-native traders.

Data indicates that retail investors have withdrawn approximately $4 billion from crypto ETFs this month, surpassing the historical record set in February. Notably, during the same period, retail enthusiasm for stock ETFs remains strong, with about $96 billion flowing in November. If this pace continues, it could reach $160 billion by the end of the month, comparable to September and October. This phenomenon suggests that investors still view crypto assets and traditional stocks as different investment categories, and the adjustment in the crypto market does not indicate a shift in retail sentiment towards risk assets as a whole.