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Rising tensions in the Middle East and global geopolitical pressures continue to negatively impact Bitcoin, Ethereum, and other cryptocurrencies.
This has led to a significant slowdown in the capital flowing into the cryptocurrency market.
Wall Street giant JPMorgan has analyzed the current state of the cryptocurrency market in a new report.
JPMorgan said that capital flows into cryptocurrencies “slowed significantly in the first quarter of 2026,” with total inflows remaining at around $11 billion during that period.
This rate is roughly one-third of the rate recorded in 2025.
According to JPMorgan analysts, led by Nikolaos Panigirtzoglou, “the market is increasingly dependent on a very small group of buyers.”
In the first quarter of 2026, analysts noted that “individual investors were a little reluctant,” while MicroStrategy’s (now Strategy) Bitcoin(BTC), purchases by microStrategicy and other institutions maintained market stability.
“Strategy (MSTR) continues to be the most aggressive buyer in the market.”
The main inflows in the first quarter stemmed from Strategy’s Bitcoin purchases and concentrated crypto venture capital funding.
In that time, Bitcoin miners were reportedly net sellers of Bitcoin Miners. In times of tighter financing conditions, miners instead used their digital assets to raise liquidity, cover costs or manage debt rather than sell due to panic.
The whole crypto industry slowed in the first quarter, analysts said. ETH lost more than 30% of its value and Bitcoin dropped about 23%, total market capitalization by around 20%. It was a sell-off of macroeconomic pressures and geopolitical pressure, with altcoins experiencing even larger declines.
*This is not investment advice.
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