JP Morgan: Surge in retail interest in cryptocurrencies drives recent cryptocurrency price rebound

JPMorgan Chase said the recent rally in cryptocurrency prices appears to be driven by impulsive decisions made by individual traders and not by institutional investors or market fundamentals. Analysts believe that February's surge in retail interest in cryptocurrencies may have fueled the rise in cryptocurrencies, pointing to the three main catalysts for the price surge as the Bitcoin halving event, the next major upgrade to the Ethereum network - Dencun, and The United States may approve a spot Ethereum ETF in May. The first two of these catalysts are already largely “priced in,” and the chance of an Ethereum ETF being approved in May is only 50%. (TheBlock)