#JPMBTCMayOutperformGold
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JPMorgan notes gold ETFs have seen stronger fund recovery than BTC spot ETFs, but IBIT carries higher short positions and hedging than GLD; once that unwinds, BTC could see stronger inflows vs gold. BTC fell to around $75,000 amid the CLARITY Act setback, with US spot ETFs logging around $746M in outflows, stabilizing near $76,000. Grayscale calls a $58,000 near-term floor; corporate treasury buying is broadening. Can ETF inflows, corporate treasuries, and asset rotation form BTC's demand base?
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BTC completely parted ways with the US stock market last night. The Nasdaq rose +1.69%, chip stocks collectively surged, AMD up 6%, Intel nearly 8%, risk appetite clearly visible; but the crypto market just had a relief bounce and then softened again. Don't rush in to catch the bottom of crypto just because US stocks turned positive — the correlation between the two markets has been fluctuating these days, mistaking the strength of stocks for the bottom of crypto is a classic mix-up.
#JPMBTCMayOutperformGold Gold is winning the ETF flow battle today, but JPMorgan sees a possible twist 👀
IBIT carries heavier short and hedging positions than GLD. If those unwind, BTC could see a sharper flow recovery.
What caught my attention is BTC may be building several demand engines at once: ETFs, corporate treasuries and rotation from gold.
After ~$746M in ETF outflows, $75K is testing conviction.
The next BTC rally may depend less on leverage and more on who keeps buying the dip.
BTC DOMINANCE IS FINALLY LOSING IT STRENGTH IMO
BTC.D has held this trendline multiple times
Now it’s breaking down toward 58%
If that level goes too, i wouldn’t be surprised to see money start rotating harder into ETH, SOL and the rest of the alt market
That’s when things can get fun real quick
BTC.D drops, BTC holds, do the alts finally get their turn?#CryptoTaxAndBTCReserve
BTC spadł do około 75 000, a tym razem bardziej skupiam się na funduszach za tym stojących.
BTC spadł wczoraj prawie o 4%, osiągając około 76 000 USD. Jednym z bezpośrednich impulsów było to, że Senat USA nie posunął do przodu ustawy regulującej kryptowaluty, co spowodowało gwałtowny spadek akcji związanych z kryptowalutami, takich jak COIN i Circle. Jednak prawdziwym kluczem teraz nie jest już ten spadek. To, na co musimy zwrócić uwagę dalej, to Rezerwa Federalna. Obecnie rentowność 10-letnich obligacji skarbowych USA utrzymuje się blisko 5%, a rynek generalnie oczekuje, że Fed może podnieść stopy procentowe o 25 punktów bazowych. Wysokie stopy procentowe oczywiście tworzą niekomfortowe środowisko
#JPMBTCMayOutperformGold Gold is winning the ETF flow battle today, but JPMorgan sees a possible twist 👀
IBIT carries heavier short and hedging positions than GLD. If those unwind, BTC could see a sharper flow recovery.
What caught my attention is BTC may be building several demand engines at once: ETFs, corporate treasuries and rotation from gold.
#FedOctHikeOddsHit55% #CryptoTaxAndBTCReserve #SECCFTCOnchainRules
Gold's ETF recovery looks stronger today, but positioning may matter more than the headline flow gap. JPMorgan notes that IBIT carries heavier shorts and hedging than GLD, creating a potential release valve if those trades unwind.
With BTC near $76,000 after roughly $746M in US spot ETF outflows, treasury demand alone may not set the floor. A rotation needs cleaner positioning and renewed ETF absorption. NFA.
#JPMBTCMayOutperformGold
