In a grand display of indifference, a JPMorgan survey reveals that the majority of institutional traders have no stomach for crypto trading this year. 🥱💔
“The cold shoulder for digital coins,” laments the Wall Street behemoth’s January poll, as it watches the crypto dreams of institutional traders fade like a bad haircut. 🚀📉
From a towering 78% last year, the percentage of crypto naysayers has only slightly dipped to 71%. A victory? Hardly. 🙄📊
But lo! A glimmer of hope: 16% plan to dive into crypto, while 13% are already swimming in the digital sea. Both figures, like a phoenix, have risen from the ashes of 2024. 🌊🔥
Ironically, every single respondent wants to increase their online trading, as if to say, “Crypto, who? We’re here for the less liquid assets!” 🤑🌐
Despite the regulatory environment becoming more crypto-friendly, the institutional traders remain as interested as a cat in a math class. 🐱📚
Eddie Wen, JPMorgan’s digital markets maestro, tells Bloomberg that the new administration is crypto’s cheerleader, but the traders are still playing hard to get. 🎩🏃♂️
As for market concerns, inflation and tariffs are the big bad wolves, with market volatility being the monster under the bed, according to the surveyed traders. 🐺🛏️
Gergana Thiel, JPMorgan’s macro sales wizard, is not shocked by the survey’s findings. After all, tariffs and inflation are the trendy scapegoats of the financial world. 🐐🔮
This grand survey, involving 4,200 clients from 60 countries, was as thorough as a detective on a coffee binge. Jan. 9 to 23, they scrutinized, they pondered. 🕵️♂️☕
The US government’s crypto pivot is as evident as a kangaroo in a room full of rabbits, with the SEC reducing its crypto enforcement unit to a mere shadow. 🦘🐇
Trump’s executive order for a sovereign wealth fund, managed in part by crypto enthusiasts, suggests that even the highest seats of power are not immune to the digital charm. 🎉🏛️
Senator Cynthia Lummis hints at the fund possibly snatching up Bitcoin, while the White House’s crypto czar dreams of stablecoins bringing the dollar’s reign online. 💰🌐
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2025-02-06 09:03