JPMorgan strategy analyst: The crypto market will face weeks of deleveraging, and Bitcoin could drop to as low as $13,000

ChainCatcher news, according to Bloomberg, a team of strategy analysts at JPMorgan led by Nikolaos Panigirtzoglou has analyzed that the crisis at FTX.com will lead the crypto market to face weeks of deleveraging, and this turbulent period could push Bitcoin down to $13,000. Given the interactions between the exchange, FTX's sister trading firm Alameda Research, and other parts of the crypto ecosystem, "a series of margin call notifications" may be underway. (Bloomberg)