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# JPMorgan maintains a negative outlook on Bitcoin
According to CNBC, the financial services behemoth JPMorgan continues to anticipate that Bitcoin will encounter downward forces in the near future.
On March 2, Bitcoin’s value briefly increased to $95,000 after confirming that the premier digital currency would be a crucial element of the recently revealed crypto reserves.
However, it has since eliminated all of those increases, falling below $82,000 within a couple of days.
Earlier this Thursday, Bitcoin’s value briefly rose to an intraday peak of $92,790 before relinquishing some of its gains.
## Concerns Regarding Crypto Reserves
In a recent report, JPMorgan’s managing director, Nikolaos Panigirtzoglou, emphasized that some individuals are doubtful about whether the crypto reserve plan will actually obtain legislative approval.
Furthermore, he stated that the practicality of incorporating tokens like XRP and SOL into the reserves is uncertain, given their instability.
Panigirtzoglou also emphasized that initiatives to introduce strategic Bitcoin reserves at the state level have been unsuccessful, even in conservative states such as South Dakota.
## Declining Institutional Interest
Panigirtzoglou observed that institutional investors seem to have diminished their holdings. JPMorgan is of the opinion that the absence of optimistic catalysts has resulted in a weakening of impetus.
According to the analysts, there may be further position liquidations in the times ahead.
JPMorgan also indicated that MicroStrategy is now encountering greater difficulty in raising debt due to investors requiring superior conditions.
