Saylor’s solo act: JPMorgan says Strategy is practically the only thing keeping crypto flows alive

What Happened

JPMorgan reported crypto inflows slowed to approximately $11 billion in Q1 2026, implying a $44 billion annualized rate—one-third of 2025's pace. MicroStrategy's bitcoin purchases and venture capital funding dominated flows while retail and institutional investor activity remained weak. Total crypto market capitalization fell 20%, bitcoin dropped 23%, and ether declined over 30%. Spot ETFs saw net outflows. Bitcoin miners were net sellers.

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