Odaily News JPMorgan analyst Nikolaos Panigirtzoglou said in a report on Wednesday that retail investors have been leaning into a "debasement trade," buying Bitcoin and gold exchange-traded funds (ETFs) ahead of the November 5 U.S. presidential election. Panigirtzoglou said that based on the cumulative open interest change in CME Bitcoin futures, institutional investor activity appears to have been on hold for the past two weeks. He noted that Bitcoin futures have become "quite overbought" and could face vulnerability "in the future." The situation is similar for gold, where retail investors continue to buy gold ETFs while trading activity in gold futures has paused. (TheBlock)