PANews reported on February 21 that according to Jinshi, JPMorgan Chase said in a report on Wednesday that the cryptocurrency market lacks positive catalysts in the short term. The report said that Bitcoin and Ethereum futures have been close to spot premium in recent months, which is a sign of declining demand. "This is a negative development, indicating weak demand from institutional investors who use regulated CME futures contracts to gain exposure to these two cryptocurrencies," said a team of analysts led by Nikolaos Panigirtzoglou. The bank pointed out that weak demand may be due to: The Trump administration's positive cryptocurrency measures are more likely to be implemented in the second half of the year, which means that institutional investors may take profits due to the lack of short-term catalysts. JPMorgan added that the decline in demand for systematic and momentum-driven funds such as CTAs also affected Bitcoin and Ethereum futures.