JPMorgan analyzed that the debasement trade centered on BTC and gold is weakening. JPMorgan explained, "Recently, outflows from BTC and gold ETFs and a reduction in CME futures positions are occurring simultaneously. This indicates a decrease in demand for hedging inflation and geopolitical risks. In particular, the easing of US-Iran tensions and expectations of possible diplomatic agreements are changing investor sentiment. It's not that funds are moving from BTC to gold, but rather that demand for both assets is slowing down."
