JPMorgan analysts are optimistic about the near-term crypto market, citing limited downside potential based on Bitcoin futures data. Recent events, like SpaceX selling Bitcoin and a Chinese real estate company's bankruptcy, led to market drops and $1.04 billion in Bitcoin futures liquidation. Bitcoin's future open interest decreased by 27% from August 17 to $8.4 billion. Long-position liquidations are slowing down, according to JPMorgan. Despite recent volatility, Bitcoin's price is $26,051, down 0.1% in 24 hours and about 12% in the past month. BlackRock's Bitcoin ETF application and Pantera's prediction of a potential rise to $148,000 after the next halving maintain a positive market outlook.