Bitcoin ($BTC) and gold continue to move in opposite directions. In this context, JPMorgan has revealed the latest data between $BTC and gold and the sharp divergence between them.
US banking giant JPMorgan stated that $BTC and gold ETFs have seen opposing flows since the US-Iran war.
According to The Block, JPMorgan analysts have noted a significant contrast in Bitcoin and gold ETF flows since the start of the conflict in Iran.
JPMorgan analysts led by Nikolaos Panigirtzoglou stated in their latest report that SPDR Gold Shares (GLD), the largest gold ETF, has experienced outflows equivalent to approximately 2.7% of its holdings since the war. In contrast, BlackRock iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF, recorded inflows equivalent to approximately 1.5% of its holdings during the same period.
Analysts noted that this significant divergence stemmed from investors shifting their positions between the two assets.
“We are seeing investors rebalancing their positions between gold and Bitcoin.”
Analysts also added that there are signs that Bitcoin’s volatility is gradually decreasing as institutional investment increases and market liquidity improves.
