Jefferies analysts on the state of the crypto market
According to a new report from investment bank Jefferies, the cryptocurrency market has not yet shown clear signs of reaching a price bottom. Analysts note that institutional investors continue to reduce risks, withdrawing capital from the crypto market.
At the same time, Jefferies analysts point to a number of positive factors that could support the value of some crypto assets in the long run. In particular, they draw attention to the resilient network activity, as well as the growing adoption of cryptocurrencies and blockchain technology in the traditional financial sector.
According to the bank's experts, these fundamental factors may eventually provide support to revenue-generating crypto assets, despite the persistent institutional pressure on the market. Thus, although there are no signs of a recovery in the near future, the long-term prospects for cryptocurrencies with strong fundamentals look more optimistic.