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JPMorgan Subtly Highlights Bitcoin Visibility – Could This Indicate a Significant Institutional Change?
JPMorgan Chase, which was once doubtful about Bitcoin, is discreetly increasing its exposure. Its latest 13F filings indicate a 69% increase in Bitcoin-related assets to $964,322—up from $595,326 in the previous quarter. The bank now holds 5,242 shares of BlackRock’s IBIT and has increased its Fidelity FBTC holdings by 208%, reflecting a change in institutional attitudes.
Currently, Bitcoin (BTC) is trading at $96,257 with a daily volume of $50.39 billion, recovering from $94,100 amid inflation concerns. JPMorgan’s growing participation, despite CEO Jamie Dimon’s earlier criticisms, suggests a wider institutional movement towards regulated Bitcoin ETFs.
Bitcoin Prepares for Volatility Ahead of PPI Data and Trump Speech
The U.S. Producer Price Index (PPI) for February met expectations, with core PPI rising by 0.3% and headline PPI at 0.4%. These results imply that inflationary pressures persist but are not escalating, diminishing the likelihood of immediate Federal Reserve action on interest rates. Bitcoin initially remained stable, trading around $96,280, as the inflation data matched market predictions.
Just In: January US PPI annual inflation rises 3.5%, above expectations for 3.2%.
Core PPI inflation increased 3.6% Y/Y, compared to forecasts for a gain of 3.3%. pic.twitter.com/LZAIXP7MCb— Jesse Cohen (@JesseCohenInv) February 13, 2025
Meanwhile, unemployment claims fell to 213K, surpassing the 217K forecast and indicating ongoing strength in the labor market. This resilience may contribute to broader economic stability, indirectly benefiting risk assets like Bitcoin.
Natural gas storage decreased by 100B, slightly better than anticipated, indicating seasonal adjustments rather than economic weakness. The 30-year bond auction saw yields drop to 4.75%, reflecting demand for safe-haven assets.
Is this the worst “Fed pivot” in history?
Since the Fed “pivoted,” CPI has RISEN to a 7-month high and PPI just reached its highest since February 2023.
In fact, rates paid by Americans are UP +100 bps since cuts began.
How HOT is inflation right now? Let us explain.
(a thread) pic.twitter.com/1dFaauoPJe— The Kobeissi Letter (@KobeissiLetter) February 13, 2025
Subsequently, President Trump’s comments regarding potential tariffs introduced uncertainty into global markets. Bitcoin traders are now monitoring the $95,000 support and $98,000 resistance levels for possible breakout signals.
Bitcoin Remains Steady Despite Inflation and Fed Uncertainty
However, January’s CPI report indicated a rise of 0.5%, exceeding the 0.3% forecast. Fed Chair Jerome Powell’s cautious remarks about rate cuts have dampened market enthusiasm.
Nonetheless, BTC’s stability above the crucial support level demonstrates strong underlying demand, particularly from institutional investors like JPMorgan and Goldman Sachs, which recently revealed $2.3 billion in Bitcoin ETF holdings.
The US Consumer Price Index (CPI), which gauges inflation, rose to 3%.
The previous reading was 2.9%.#Bitcoin fell below $95,000. pic.twitter.com/bBDsySM8p4—
BΞRIT
(@Berit1p) February 12, 2025
BΞRITMarket participants are currently focusing on the $100,000 psychological threshold, with upcoming US Producer Price Index (PPI) data likely to influence the next move.
Bitcoin Price Outlook – February 13, 2025
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Bitcoin (BTC/USD) is trading around $96,290, up 0.71% for the day. Bitcoin’s symmetrical triangle pattern indicates that a breakout is on the horizon.
A rise above $98,130 could trigger bullish momentum, while a decline below $94,290 may lead to selling pressure.
Traders should closely monitor institutional activity and macroeconomic developments.
The symmetrical triangle is narrowing, suggesting an imminent spike in volatility. A rebound from $95,000 indicates that buyers are defending this area, but low volume points to uncertainty.
The RSI is near neutral, reflecting a balance between buyers and sellers. A breakout above $98,130 or below $94,290 could determine Bitcoin’s next direction.
Key Insights:
- Immediate Resistance: $98,130; Key Support: $94,290
- EMA 50: $96,420, acting as dynamic resistance
- Triangle pattern signals potential breakout soon
Conclusion: A breakout above $98,130 could ignite bullish momentum, while a drop below $94,290 might lead to increased bearish pressure.
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