摩根大通：比特币与黄金“贬值交易”降温，投资者撤出避险资产

Odaily Planet Daily News JPMorgan analysts led by Nikolaos Panigirtzoglou indicated that as signs of a de-escalation in the Middle East situation emerge, investors are gradually withdrawing from the Bitcoin and gold markets, and the 'debasement trade' that had been driving demand for both is losing momentum. Over the past two weeks, both Bitcoin and gold-related ETFs have seen significant capital outflows, and institutional positions in CME futures have also weakened concurrently. This trend suggests that investors are moving away from the popular macro hedging trades that were earlier driven by inflation concerns and global instability. Moreover, this is not a case of capital rotating from Bitcoin to gold, but rather both asset classes simultaneously facing weakening demand. Bitcoin has been the primary representation of the 'debasement trade' since the Iran conflict. (CoinDesk)