Bitcoin Community Urges JP Morgan Boycott over Index Exclusion
The Bitcoin community has rallied on social media to boycott JP Morgan after reports the bank may exclude Bitcoin from its new crypto index offering. Traders and influencers warn that JP Morgan’s potential removal of BTC from the index could reduce institutional demand and undermine market liquidity. The campaign, using hashtags like #BoycottJPM and #IndexExclusion, highlights broader distrust of traditional finance players in crypto. Observers say the backlash could pressure JP Morgan to reconsider, while also stoking volatility in Bitcoin markets.
Bearish
The boycott call against JP Morgan is bearish for market sentiment. Similar to past flange debates over centralized products—such as when Coinbase faced criticism over its staking service—investor distrust of traditional finance actions often triggers short-term sell-offs and higher volatility. Exclusion of Bitcoin from a major index could deter institutional inflows, weaken demand, and spark rapid price corrections in the short term. Long term, it may also drive institutions towards more neutral or crypto-native index providers, but immediate pressure on BTC prices is expected.