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JPMorgan: Bitcoin and gold "devaluation trades" cool down, investors withdraw from safe-haven assets

MarsBitNews
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Mars Finance News, according to CoinDesk, analysts including Nikolaos Panigirtzoglou of JPMorgan Chase stated that as signs of easing tensions in the Middle East emerge, investors are gradually withdrawing from the Bitcoin and gold markets, and the "devaluation trades" that previously drove demand for both are losing momentum. Over the past two weeks, both Bitcoin and gold-related ETFs have experienced significant outflows of funds, and institutional holdings in CME futures markets have also decreased accordingly. This trend indicates that investors are pulling out of the macro hedging trades that were popular due to concerns about inflation and global instability, and it is not that Bitcoin funds are shifting to gold, but rather that demand for both asset classes is weakening simultaneously. Since the Iran conflict, Bitcoin has been the main embodiment of the "devaluation trade."
BTC-0.17%
XAU0.1%
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GlassDomeBaskingInMoonlight
· 4h ago
When the Federal Reserve turns its stance, let’s see whether these “devaluation trades” still work or not.
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SlippageSamurai
· 10h ago
Bitcoin's narrative this year has long gone beyond just a safe haven; DeFi and ETFs are the fundamentals.
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On-ChainNightSecurityGuard
· 12h ago
A decline in macro hedging demand does not mean the narrative is over; when the next geopolitical black swan occurs, it will come back.
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VintageKeychain
· 13h ago
JPMorgan's analysis is quite interesting, but I always feel that every time they turn bearish on BTC, the price tends to rebound more easily.
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TransparentGlassFeather
· 13h ago
Is it really a trend reversal if ETF outflows only for two weeks? That time frame is way too short.
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LeverageLatte
· 13h ago
The short-term hot money that originally rushed in during the Iran conflict just as normally left afterward.
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NightAuditBuddy
· 13h ago
CME position contraction may be profit-taking, not necessarily bearish.
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BullsAndBearsInVinyl
· 13h ago
A simultaneous decline on both sides indicates that funds are indeed in risk-on mode, but the logic for cryptocurrencies and gold is not the same anyway.
View OriginalReply0

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