📉 Bitcoin Under Pressure, Gold on the Rise – JPMorgan

🔎 JPMorgan analysts warn that Bitcoin’s "digital gold" narrative is weakening as its volatility and ETF outflows raise doubts. Meanwhile, gold is emerging as the primary hedge in the debasement trade, benefiting from strong demand.

🚀 Gold has surged past $3,100 per ounce, supported by both central banks and private investors, while Bitcoin struggles with higher risk and correlation to tech stocks. Spot Bitcoin ETFs have seen outflows, while gold ETFs continue to attract inflows. 👀

Despite this, Bitcoin remains above its production cost ($62K), which historically acts as a price floor. However, JPMorgan sees gold maintaining its strength in the inflation-hedging trade.