JPMorgan Chase: Bitcoin fell sharply this round or was affected by futures platform Bakkt and long position closure

JPMorgan officials said that bitcoin fell 20% earlier this week, probably driven by the impact of the new futures platform Bakkt and long positions on the Intercontinental Exchange (ICE). The strategist headed by Nikolaos Panigirtzoglou pointed out that the launch of the physical settlement of futures contracts is another step towards the maturity of the encryption market, but this may depress the bitcoin price. The strategist also said that the data showed that the long position of Bitcoin "apparently surrendered" in the past week. This may also lead to a sharp drop in bitcoin prices this week.