The worst of the bear market may be behind, as strong players in the crypto industry bail out the weak to contain the epidemic. This was explained by JPMorgan strategist Nikolaos Panigirtzoglou, according to Business Insider.

The expert may be talking about FTX Sam Benman-Freed’s interest in buying BlockFi. Online broker Robinhood has also been mentioned as a target for the media takeover. The exchange previously supported Voyager Digital.

“The repercussions of the de-leverage process will continue for a while,” said Panigirtzoglou, citing Three Arrows Capital’s default.

As an additional factor for optimism, the expert mentioned high rates of risk financing in May-June.

JPMorgan estimated the inflow of funds for this period at $5 billion. According to the Dove Metrics follower, the figure was $8.6 billion. Compared to March-April, it decreased by $2.2 billion, but increased by $3.4 billion from May-June 2021. year.

“Indicators like net leverage suggest that leverage reduction is in an advanced stage”said.

Recall that Deutsche Bank experts predicted that bitcoin will recover to $28,000 by the end of 2022.

Earlier, Arcane Research analysts did not rule out the possibility that the price of the first cryptocurrency could drop to $10,350.

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