Bitcoin
BTC
and cryptocurrency prices have soared this week, climbing with stock markets rebounding from their June lows, even amid warnings of a potential “crisis on the horizon.”

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Bitcoin price has risen more than 20% in the past week (although crypto traders are calling it “crazy”) and has helped Ethereum price climb nearly 50% as the excitement around its radical upgrade is growing. Other Top Ten BNB Coins
BNB
XRP
XRP
solana, cardano and dogecoin also surged.

Now, after JPMorgan reveals a $160 billion bitcoin price bomb, a closely watched Bank of America
BAC
A survey of investors overseeing nearly $800 billion in assets found the stock market could be close to “full capitulation.”

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Bank of America’s monthly survey of just under 260 global fund managers finds investor expectations have fallen to an all-time low as equity allocation plummets to record lows since the global financial crisis of 2008, shortly before the market recovery.

“H2 2022 fundamentals are poor, but sentiment points to an equity/credit recovery in the weeks ahead,” bank analysts wrote in a note seen by Bloomberg and the addition of its survey indicated that the market is now at the “max bearish”, suggesting that a reversal could be on the cards.

The bitcoin and crypto market has traded close to the stock market through 2022, with bitcoin’s price reflecting high-growth tech stocks and the tech-heavy Nasdaq in particular.

This week, after a record 73 days in the “extreme fear” zone, bitcoin sentiment as measured by the Crypto Fear and Greed Index shifted to mere “fear.”

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MORE FORBESCrypto Price Alert: JPMorgan Reveals $160 Billion Bitcoin Bomb

“Following waves of capitulation in May-June 2022…signals of a potential bottom formation have emerged,” FxPro senior market analyst Alex Kuptsikevich wrote in an emailed note.

Meanwhile, market watchers remain focused on the US Federal Reserve, which will hold its interest rate decision meeting in July next week and is expected to hike rates another 75 basis points as policymakers try reduce the surge in inflation.

“Bitcoin price unexpectedly recovered to its 200-week moving average and appears to be laying the groundwork for a trend reversal, but the market needs a bit more insurance to slow the pace of rate hikes. by the Fed,” said Yuya Hasegawa, a market analyst at Bitbank, wrote in an emailed note adding that “the short-term outlook for bitcoin is bullish and [the bitcoin price] could go up to around $29,000 this week.”



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