Although the cryptocurrency market is showing an overall recovery, JPMorgan analyzed that altcoins, including Ethereum (ETH), are showing sluggish movement, and this is unlikely to change. According to The Block, JPMorgan stated in a recent report, "The bearish trend of altcoins against Bitcoin, which began in 2023, is unlikely to change unless there is significant improvement in the DeFi and Real World Asset (RWA) sectors. In all areas, including spot ETFs and institutional futures positions, BTC has shown stronger resilience than ETH. Although ETH has upgrades scheduled, upgrades over the past three years have failed to improve network activity and have instead weakened the token burning mechanism. Altcoins are also expected to continue to struggle due to deteriorating liquidity conditions, lack of market depth, and erosion of investor confidence."
