JPMorgan says its expecting a diminishing in crypto liquidations during July, and then a recovery starting in August.
- revised its year-to-date crypto net flow estimate down from US$12 billion to US$8 billion
- reduction in the estimated net flow is largely driven by the decline in bitcoin reserves across exchanges over the past month
- citing Mt. Gox, Gemini creditors, and sales by the German government of seized assets
