On October 31st, according to The Block, JPMorgan analysts said that if Trump wins the US election, it may further boost the demand and price of bitcoin and gold. The JPMorgan team pointed out that retail investors are actively participating in the so-called "currency depreciation trade", increasing investment in bitcoin and gold ETFs to hedge against the risk of currency depreciation.
The analysis pointed out that the net inflow of bitcoin spot ETFs reached $1.30 billion in the past two days, making the total inflow in October reach $4.40 billion, the third highest on record. While the active level of institutional investors on bitcoin futures has slowed recently, analysts believe that there may be some risk of a correction in the bitcoin futures market. In addition, gold ETF inflows are also mainly driven by retail investors. Analysts concluded that if Trump's victory further motivates retail investors to flood the bitcoin and gold markets, these assets may usher in more upside space.
JP Morgan analyst: Trump's victory will give bitcoin and gold prices additional upside
2024-10-31 10:53:54
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