JPMorgan says debasement trade has fallen out of favor
The “debasement trade” that drove strong demand for bitcoin BTC$72,779.62 and gold during recent geopolitical tensions is beginning to lose momentum, according to JPMorgan analysts led by Nikolaos Panigirtzoglou. In a report on Thursday, the bank argued investors have started pulling capital from both bitcoin and gold exchange-traded funds (ETFs) at the same time as…