JPMorgan: Bitcoin Outpaces Ethereum as Altcoins Lag After Oct. 2025 Deleveraging

A JPMorgan report says Ether and the broader altcoin market have been trailing Bitcoin for multiple years, a gap it expects to continue without a strong rebound in network activity, utility and DeFi adoption. The bank ties the divergence to the October 2025 sector deleveraging and notes spot Bitcoin ETFs recovered about two-thirds of prior outflows versus roughly one-third for spot Ether ETFs. It also flagged 2026 Ethereum upgrade plans but argued they may not spark a meaningful rise in onchain activity.