JPMorgan: Investor shift from BTC to precious metals leaves futures oversold

JPMorgan has analyzed in a new report that Bitcoin futures are in an oversold condition as both individual and institutional investors increasingly favor precious metals like gold and silver over Bitcoin. According to The Block, the report states that while individual investors actively participated in the so-called debasement trade last year by buying both Bitcoin and gold ETFs, this trend began to shift around August. In the fourth quarter of last year, cumulative inflows into Bitcoin ETFs stagnated and declined, while inflows into gold ETFs surged over the same period. JPMorgan suggests this indicates that individual investors are shifting capital from Bitcoin to precious metals, noting the trend is even more pronounced among institutional investors.