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

BTC

BTC/USDT

$79,787.07

+0.17%

$79,787.07

+0.17%

(24s)

24h Volume

$6,049,472,435.88

24h H/L

$80,200.00 / $79,442.00

Change: $758.00 (0.95%)

Long/Short

52.7%

Long: 52.7%Short: 47.3%

Funding Rate

+0.0008%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,898.13

▲ 0.30%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,683.92

Resistance 1$80,881.43

Price$79,898.13

Support 1$79,635.96

Support 2$76,187.99

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.9

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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