Broker and bank research frames selloff as late-stage correction, not new ‘crypto winter’

JPMorgan and other analysts highlighted in TheStreet and CoinDesk argue that November’s meltdown and the latest post-Fed drop look like a meaningful, but still cyclical, drawdown within an ongoing bull market. Their base cases see future upside increasingly dependent on sustained ETF inflows and institutional demand rather than further balance-sheet buying by ‘bitcoin treasury’ companies.