JPMorgan: BTC and gold demand slowing simultaneously

The "debasement trade" centered on BTC and gold is weakening, according to an analysis by JPMorgan. The bank noted that recent simultaneous outflows from BTC and gold ETFs, along with a reduction in CME futures positions, indicate a decrease in demand for hedging against inflation and geopolitical risks. In particular, expectations of easing U.S.-Iran tensions and the possibility of a diplomatic agreement are changing investor sentiment. JPMorgan explained that funds are not moving from BTC to gold; rather, demand for both assets is slowing.