JPMorgan released analysis on January 9, 2026, suggesting the cryptocurrency market’s 'de-risking' phase may be concluding. The bank believes the period of reduction by retail and institutional investors likely finished in the fourth quarter of 2025.
The report noted that flows for Bitcoin and Ethereum exchange-traded funds (ETFs) are stabilizing. Analysts also observed that selling pressure appears to be easing across the sector.
The investment bank specifically cited MSCI’s recent decision not to exclude crypto-asset reserve companies from its global stock indexes. This action offered "at least temporary relief" to the market.
This decision specifically benefits firms like MicroStrategy. The analysis suggests a more stable market environment following a period of significant volatility.