

JPMorgan says crypto sell-off is mostly done as ETF outflows slow and MSCI’s index reprieve helps Bitcoin stabilize near $94k.
Summary
JPMorgan Chase & Co. stated the recent sharp sell-off in the cryptocurrency market may be largely over, according to a report from the investment bank.
Nikolaos Panigirtzoglou, an analyst at the bank, said outflows from Bitcoin and Ethereum exchange-traded funds had slowed significantly since January. Positioning indicators in the futures market suggested investor selling would largely conclude by the end of 2025, according to the analyst.
The bank reported market liquidity remains strong despite the recent downturn.
JPMorgan stated the primary cause of the current correction stemmed from risk mitigation measures triggered by MSCI’s October announcement that crypto-related companies could be delisted from indices, rather than market-related stress.
MSCI’s recent decision not to exclude crypto-related companies from its global equity index review in February 2026 provided short-term relief for the market, according to JPMorgan. The bank stated this decision reduced the risk of potential forced sell-offs due to index changes and strengthened expectations of a bottom formation in the cryptocurrency market.
Bitcoin traded at approximately $94,000 as of Friday, according to market data.





