$TRX
JPMorgan Chase analysts stated on Wednesday that bitcoin is no longer benefiting from the wave of demand for safe havens, unlike recent inflows into gold. In a research note, the team led by Managing Director Nikolaos Panigirtzoglou noted clear signs of waning investor appetite for BTC. JPMorgan analysts stated:
Bitcoin did not benefit from the inflows into safe havens that support gold.
They observed that the cryptocurrency is suffering from three consecutive months of outflows from ETF funds and decreased speculative interest in the futures market.
