(Bloomberg) —
Bitcoin’s recent bounce has yet to dispel doubts about its vulnerability following a rout in May.
The cryptocurrency has jumped about 14% over two days and was trading at $38,295 as of 11:05 a.m. in London on Thursday. While the momentum may cheer bulls, a JPMorgan Chase & Co. team said backwardation in a part of the futures market — where the spot price is above futures prices — is reason for caution.
“We believe that the return to backwardation in recent weeks has been a…
Source link
