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JPMorgan says inflation, not ETF, powered Bitcoin (BTC) to $67,000

Strategists at JPMorgan have deemed inflation as the main driver that induced Bitcoin prices to shoot up to a staggering $67,000 instead of Bitcoin Futures ETFs.

JPMorgan says inflation, not ETF, powered Bitcoin (BTC) to $67,000

Cover art/illustration via CryptoSlate

US bank JPMorgan says the launch of the ProShares Bitcoin futures ETF is unlikely to trigger a rise in the prices of Bitcoin.

They instead stated inflation as a key reason that may have helped propel Bitcoin prices to soar to new all-time highs.

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