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

BTC

BTC/USDT

$64,515.40

+0.70%

$64,515.40

+0.70%

(24s)

24h Volume

$4,219,318,413.87

24h H/L

$64,599.95 / $64,043.00

Change: $556.95 (0.87%)

Long/Short

65.1%

Long: 65.1%Short: 34.9%

Funding Rate

+0.0035%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$64,524.98

▲ 0.23%

Volume (24h): -

Resistance Levels

Resistance 3$70,467.59

Resistance 2$66,379.48

Resistance 1$64,630.19

Price$64,524.98

Support 1$64,050.00

Support 2$62,909.86

Support 3$61,824.97

Pivot (PP):$64,220.09

Trend:Uptrend

RSI (14):51.3

CoinDesk Staff

(01:38 PM UTC)

1 min read

Reviewed byEmily Watson

580 views

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…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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CoinDesk Staff · CoinDesk

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