JPMorgan Announced: Bitcoin and Ethereum Prices Could Rise This Way - Coin Bulletin

**JPMorgan analysts examined the technical, geopolitical, and structural factors that could affect the cryptocurrency market in the coming period.

Analysts have evaluated the seasonal October rise known as 'Uptober', the Federal Reserve's interest rate policies, the approval of Bitcoin exchange-traded funds (ETFs), and Ethereum's upcoming Pectra update.

Expectation of rise in October: "Uptober"

One of the notable points of the report was that October is generally a positive month for cryptocurrency markets. This period, called 'Uptober', is expected to provide positive returns for Bitcoin with a 70% probability, according to analysts.

"While past performance may not guarantee the future, it can influence market behavior, and we may see a positive trend in October," they said.

Interest rate cuts have not yet been reflected in the cryptocurrency market

Analysts who stated that the expected positive effects on the cryptocurrency market have not yet been seen despite the interest rate cuts by the US Federal Reserve, said that low interest rate environments generally support risky assets.

However, they stated that the relationship between the cryptocurrency market and Fed policies is weak and the correlation remains at 0.46. Analysts said, 'We did not see an increase in crypto prices after the interest rate cut on September 18th'.

Bitcoin ETFs could increase liquidity

JPMorgan analysts pointed out that the approval of Bitcoin exchange-traded fund (ETF) options could increase market liquidity and attract new investors. In particular, they predicted that the approval of option applications for BlackRock's iShares Bitcoin Trust spot ETF could enable ETFs to reach a wider investor base.

Ethereum's Pectra update will have a long-term impact

The upcoming Pectra update of the Ethereum network was also mentioned in the JPMorgan report. The update is expected to improve the efficiency of the network by improving validation operations and increasing account abstraction. Analysts noted that Pectra will provide a structural improvement for Ethereum in the long term, but will not cause a sudden increase in ETH price in the short term.

Overall, JPMorgan emphasizes that the cryptocurrency market is currently in a waiting period and that a more prominent macroeconomic or structural catalyst is needed for sustainable growth.