JPMorgan Chase: Bitcoin outperforms gold in hedging against currency depreciation

According to The Block, JPMorgan analysts have stated that after the Iran conflict, Bitcoin's performance as a currency depreciation hedge tool has gradually surpassed gold. The team led by Managing Director Nikolaos Panigirtzoglou pointed out that the Bitcoin ETF has recorded inflows for three consecutive months, while the gold ETF has not fully recovered its March outflows. Analysts also mentioned that the holdings of CME Bitcoin futures and offshore perpetual futures have reached new highs, indicating that institutional investors are also increasing their exposure to Bitcoin. Meanwhile, momentum signals for both Bitcoin and gold have rebounded since the conflict.