BlockBeats news, on May 15, reported by TheBlock, JPMorgan analysts stated that the rise in gold from mid-February to mid-April suppressed Bitcoin's performance, while in the past three weeks Bitcoin rebounded by 18%, and gold dropped by 8% during the same period, with funds shifting from gold ETFs to crypto funds. A series of catalysts include:
Corporate accumulation: Strategy (formerly MicroStrategy) plans to raise another $42 billion to buy Bitcoin before 2027, and Bitcoin strategy companies like Metaplanet continue to accumulate;
Government reserves: New Hampshire allows 5% of state assets to be allocated to Bitcoin, and Arizona establishes a digital asset reserve;
Derivatives market gradually matures: Coinbase acquires Deribit, Kraken acquires NinjaTrader, and Gemini receives European derivatives brand approval.
JPMorgan Managing Director Nikolaos Panigirtzoglou pointed out: As more U.S. state governments consider incorporating Bitcoin into reserves, this could become a sustained positive factor.
