JP Morgan on cryptocurrency.

Analysts at the bank say that miners of Bitcoin needing to sell could weigh on the token’s price for some time still to come.

Public-listed miners (circa 20% of the total) have already reported Bitcoin sales in May and June

• sales are to increase liquidity, meet costs and possibly deleverage

JPM say privately-held miners may have sold a larger share of their block rewards from mining activity to meet ongoing costs and could be less levered given their more limited access to capital markets