JPMorgan notes that the bitcoin price is already under pressure, having slipped below $40,000, and it sees the potential for โcryptocurrency ETF enthusiasm to further deflate, driving with it lower token prices, lower trading volume, and lower ancillary revenue opportunitiesโ for firms such as Coinbase.
Coinbase Downgraded to Underweight; Bitcoin ETF Catalyst May Disappoint: JPMorgan
