JPMorgan Analysts Highlight Bitcoin’s Struggles as Gold Soars Amid Flight to Safety

In a recent analysis by JPMorgan Chase published on April 17th, it was highlighted that ongoing macroeconomic uncertainty is significantly impacting market movements. The report, led by Managing Director Nikolaos Panigirtzoglou, reveals that investors are increasingly flocking to gold as a safe-haven asset, which has resulted in a noticeable surge in gold ETFs and the futures market. This shift emphasizes the trend of flight to safety amid global market volatility. Conversely, Bitcoin appears to be missing out on this protective momentum. The report notes a marked decline in speculative interest within the Bitcoin futures market, alongside consecutive outflows from cryptocurrency ETFs. As traditional investors prioritize stability, the potential for Bitcoin to emerge as a viable alternative remains in question, underscoring the asset’s ongoing struggle to gain significant traction in turbulent times.