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Family offices shun crypto despite hype, with 89% holding no digital assets: JPMorgan Private Bank

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Family offices shun crypto despite hype, with 89% holding no digital assets: JPMorgan Private Bank

The vast majority of global family offices do not hold cryptocurrency in their portfolios, according to JPMorgan Private Bank’s 2026 Global Family Office Report.

Despite the pervasive sense of geopolitical risks, highlighted in the bank’s wealth report, the appetite for traditional and emerging hedges remains limited: 72% of global family offices have no gold exposure, and 89% have no exposure to cryptocurrencies, the report stated.

In light of the latest bloodbath that enveloped crypto markets this past weekend, it’s perhaps not surprising that family offices choose to rely on other approaches when it comes to hedge their portfolios.

“Despite the headlines and hype around crypto and other digital assets, the vast majority of family offices (89%) remain on the sidelines,” the report said. “This could reflect a debate that we are also having within JPMorgan: What role should cryptocurrency and other digital assets play in a portfolio, and, perhaps more importantly, how much should a portfolio own, given their elevated volatility and inconsistent correlation with other assets?”

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Looking ahead, some 17% of wealthy families said crypto and digital assets was a theme they would prioritize in the future. But this was dwarfed by AI, which 65% of families said they planned to invest in going forward.

On average, family offices allocate approximately 75% of assets to a combination of public equities and alternatives investments, with U.S. large-cap equities dominating public holdings and drawdown funds leading privates, according to the report.

JPMorgan Private Bank interviewed 333 family offices across 30 countries; $1.6 billion was the average net worth of participants.

“This report is more than a survey, it’s the result of our collaboration with some of the world’s most sophisticated family offices,” said Natacha Minnit, Global Co-Head of the Family Office Practice at JPMorgan Private Bank.

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Crypto World

Bitcoin up, software stocks down since the war began

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Bitcoin up, software stocks down since the war began

Since the outbreak of the war with Iran on Feb. 28, bitcoin has started to diverge from software equities, with the iShares Expanded Tech-Software Sector ETF (IGV), serving as a useful proxy for the sector.

Bitcoin has been one of the strongest-performing assets during this period, rising more than 5% and trading back above $69,000, including a gain of more than 0.5% over the past 24 hours.

IGV, in contrast, has fallen more than 2% since the conflict began. That gap suggests investors are starting to treat bitcoin and software stocks differently, at least in the near term.

Until recently, the two had moved closely together. Over the past three months, bitcoin fell 26% and the ETF lost 23%. Year to date, both are lower by about 21%. Over five years, bitcoin has gained 18% compared with 10% for IGV. In other words, both have moved in the same direction, but the cryptocurrency has done so with much greater volatility.

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That is also clear in their declines. Bitcoin had fallen roughly 50% from its October all-time high, while IGV, which peaked slightly earlier, fell about 35% from its own top.

The correlation data tells the same story. From early February, bitcoin and IGV were almost perfectly correlated, close to 1.0, meaning they were moving nearly in lockstep. After the war began, that relationship broke down sharply, with the correlation dropping to 0.13, a level that signals near decoupling, before rebounding to around 0.7. The figure can range between -1.0 and +1.0, with 0 indicating no correlation at all.

Why have software stocks been hit harder?

IGV is heavily weighted toward large software and services companies such as Microsoft (MSFT), Oracle (ORCL) and Salesforce (CRM). Investors are increasingly worried that artificial intelligence will compress margins and valuation multiples across software, especially in Software as a Service (SaaS), as competition rises and barriers to entry fall. Bitcoin, meanwhile, is trading more like a macro asset, benefiting from geopolitical uncertainty.

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Bitcoin Trader Eyes Bear Market Bottom as Stochastic RSI Mimics 2023

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Bitcoin Trader Eyes Bear Market Bottom as Stochastic RSI Mimics 2023

Bitcoin (BTC) is copying the end of its 2022 bear market “nearly perfectly,” according to a new BTC price analysis.

Key points:

  • Bitcoin stochastic RSI values are “nearly perfectly” repeating the end of its last bear market, new analysis claims.

  • Both recent local bottoms and the current rebound echo conditions from three years ago.

  • Standard RSI is already on the radar for a potential BTC price bottom signal.

Bitcoin stochastic RSI echoes 2023 rebound

In an X post on Monday, crypto trader Quantum Ascend revealed copycat moves playing out on Bitcoin’s stochastic relative strength index (RSI) indicator.

Stochastic RSI, also known as “stoch RSI,” is a derivative of traditional RSI — a classic leading indicator that helps traders identify overbought and oversold conditions, as well as BTC price trend changes.

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Like its standard counterpart, stoch RSI flashes “oversold” price signals when it drops below 30/100 on its scale, with “overbought” entering when its value is above 70/100.

Stoch RSI moves between those two zones much more quickly, but Quantum Ascend sees a key long-term bull signal now locking in.

“RSI at the EXACT SAME point on the Daily as it was in 2022,” he told X followers.

BTC price and stochastic RSI comparison. Source: Quantum Ascend/X

An accompanying comparative chart shows stoch RSI making a double bottom along with price before both surged higher in early 2023. At the time, BTC/USD had recently set a multiyear low of $15,600 — a level that ended up forming the bear-market bottom.

Now, Quantum Ascend says, the repeat performance is “playing out nearly perfectly.”

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“Breaking above the EXACT SAME level (blue line). At the EXACT SAME time,” he added.

The chart reveals that stoch RSI is now attempting to clear its 50/100 midpoint after two local lows in late January and late March, respectively.

BTC price counts down to bear flag decision

RSI signals have already been firing in 2026 despite lackluster BTC price strength.

Related: First real bull signal since 2025? Five things to know in Bitcoin this week

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As Cointelegraph reported, eyes are on weekly standard RSI to print a bullish divergence with price, again mimicking early 2023.

At the time, weekly RSI set its lowest level on record — one so far not matched in 2026, per data from TradingView.

BTC/USD one-week chart with RSI data. Source: Cointelegraph/TradingView

Bitcoin still faces bearish hurdles to recovery, with traders concerned about a bear-flag breakdown repeating on the daily chart.

“In few days we will understand if the pattern is repeating or not,” analyst Aksel Kibar wrote on X over the weekend.

BTC/USD one-day chart. Source: Aksel Kibar/X