🚨 JPMorgan drops the warning the market doesn't want to hear
#Ethereum and altcoins continue to lose the battle against
#bitcoin and the worst may be yet to come
JPMorgan analysts, led by Nikolaos Panigirtzoglou, have just published a diagnosis that shakes the foundations of the crypto ecosystem beyond Bitcoin; Ethereum and the altcoins are not just lagging behind (they've been lagging since 2023) and the signals indicate that this won't change anytime soon.
The gap between
#BTC and
#ETH is not opinion, it's data
Bitcoin Spot ETFs have recovered ⅔ of their outflows after the correction due to the conflict with Iran
Ethereum Spot ETFs have barely recovered ⅓
Institutional positioning in Bitcoin futures on the CME has almost fully recovered
Ethereum's remains below previous levels
Institutional money speaks clearly: when there's fear, ETH is sold. When there's confidence, BTC is bought. Ethereum is not being treated as a store of value — it's being treated as a speculative second-tier asset.
THE ALTCOIN ECOSYSTEM: IN INTENSIVE CARE
The outlook for altcoins is even bleaker. JPMorgan identifies a perfect storm of factors that have eroded investor confidence since 2023:
Lower liquidity and market depth
Limited growth in DeFi
Repeated hacks and security failures
New capital fleeing to Bitcoin
Fresh capital is not entering the altcoin ecosystem. It's going straight to BTC.
JPMorgan is not declaring the end of Ethereum or the altcoins. It's pointing to something more precise and more dangerous: a structural loss of narrative against Bitcoin that technical upgrades alone cannot reverse.
$BTC $ETH