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Bitcoin price analysis: JPMorgan says debasement trade has fallen out of favor

BTC

BTC/USDT

$84,199.80

-0.52%

$84,199.80

-0.52%

(24s)

24h Volume

$14,991,915,112.81

24h H/L

$85,255.00 / $83,183.00

Change: $2,072.00 (2.49%)

Long/Short

58.1%

Long: 58.1%Short: 41.9%

Funding Rate

+0.0004%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$84,056.77

▼ -0.05%

Volume (24h): -

Resistance Levels

Resistance 3$87,335.96

Resistance 2$85,667.07

Resistance 1$84,123.41

Price$84,056.77

Support 1$84,021.79

Support 2$80,169.72

Support 3$77,064.96

Pivot (PP):$84,179.33

Trend:Uptrend

RSI (14):64.1

CoinDesk Staff

(01:38 PM UTC)

1 min read

Reviewed byEmily Watson

0 comments

'Debasement trade’ falls out of favor as inflation fears cool, JPMorgan says

Investors are abandoning bitcoin and gold, perhaps sensing a coming end to Middle East hostilities.

The “debasement trade” that drove strong demand for bitcoin BTC$73,580.34 and gold during recent geopolitical tensions is beginning to lose momentum, according to JPMorgan analysts led by Nikolaos Panigirtzoglou.

In a report…

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CoinDesk Staff · CoinDesk

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