JPMorgan: Crypto Assets are becoming a tradable macro asset class

[JPMorgan: Crypto Assets are Becoming a Tradable Macro Asset Class] On November 26, according to a report circulated in the community, JPMorgan stated that Crypto Assets are gradually breaking away from a venture capital-like ecosystem and are shifting towards a typical tradable macro asset class supported by institutional liquidity rather than retail speculation. In the early stages, Crypto Assets projects received multiple rounds of large-scale private financing, but very few projects were built to be traded in a liquid and scalable manner, with retail investors often buying at high prices only after valuations had significantly risen. The participation of retail investors has declined, and the sector now relies more on institutional investors to stabilize fund flows, reduce Fluctuation, and anchor long-term prices. There are still investment opportunities in Crypto Assets because, while they are relatively liquid, they remain structurally inefficient, with uneven liquidity distribution leading to significant price Fluctuation. The prices of Crypto Assets are increasingly influenced by broader macroeconomic trends, rather than being solely driven by the predictable four-year Halving cycle of Crypto Assets themselves – that is, the process where Bitcoin's new supply is halved, subsequently triggering a bull run. A speaker pointed out that it could potentially reach $240,000 in the long term, indicating it is a multi-year growth opportunity.