Bitcoin's Volatile Ride: From Flash Crash to Overbought Territory

JPMorgan has stated that bitcoin remains overbought despite a recent correction, with spot ETFs experiencing significant outflows in the past week. The bank anticipates that profit-taking in bitcoin could persist into the upcoming halving event, as the cryptocurrency market suffered a sharp correction before rebounding. JPMorgan's analysts highlighted a slowdown in net inflows into spot bitcoin ETFs and suggested that profit-taking is likely to continue, especially given the overbought positioning in the market.