Analysts from international investment bank JPMorgan Chase believe that the protracted crypto market is driving away institutional investors, Bloomberg reports on Tuesday, Dec. 18.

Analysts from JPMorgan, together with international strategist Nikolaos Panigirtzoglou, have reportedly declared that involvement of institutional investors in Bitcoin (BTC) “appears to be weakening.”

In a put together released analysis note, analysts have all over that “key flow metrics have downshifted dramatically,” as well as a decline within the Bitcoin commodities exchange.

The specialists reportedly noted the decreasing index of open interest (OI) — the number of open contracts on Bitcoin futures — on the Chicago Board choices Exchange (CBOE) international markets. They supposedly claim that within the past month the index reached its “lowest levels” since the launch of Bitcoin futures commercialism on Dec. 10, 2017.

Citing data from the u. s. commodity Futures trading Commission (CFTC), the report says that the “more widely used” contracts by the Chicago Mercantile Exchange (CME) are “near the underside of 2018’s vary.” therewith, the CME reportable in period of time that BTC futures had continuing to grow within the third quarter this year.

Moreover, JPMorgan reportedly declared that the common dealings size within the crypto market has dropped to less than $160, opposed to regarding $5,000 one year ago. in addition, analysts mentioned that altcoins are continued to “suffer disproportionately throughout this correction section.”

The analysis note conjointly touched on the difficulty of the crash of crypto mining gain that's related to the decline of crypto markets. Citing the dropping Bitcoin hashrate — the live of mining’s process problem — JPMorgan states that mining isn't any longer economical for several miners, who are afterwards forced to sell off their equipment.

JPMorgan’s reportable stance on the downward trend in crypto markets echoes that of CoinShares CSO Meltem Demirors, who claimed that the recent crash is caused by establishments “taking cash off the table.”

Yesterday, crypto analysis firm Diar published an analysis claiming that institutional investors have turned to higher liquidity over-the-counter (OTC) physical Bitcoin trading.

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