en.bitcoinsistemi.com
According to a new report published by US financial giant JPMorgan Chase, Bitcoin, the leading cryptocurrency, has recently shown greater resilience compared to traditional safe-haven assets.
According to the report, gold and silver have been under significant pressure in recent weeks due to capital outflows, position closures, and deteriorating liquidity conditions. JPMorgan argued that the liquidity squeeze in the gold market, in particular, has reduced the asset’s market access to less than Bitcoin’s, reversing the historical relationship between the two assets. Gold is reported to have fallen by approximately 15% this month from its peak of around $5,500 per ounce in January, while silver has also experienced a sharp decline from its peak of around $120. This decline is attributed to rising interest rates, a strengthening dollar, and significant profit-taking by both individual and institutional investors.
Fund flow data also supports this divergence. In the first three weeks of March, gold ETFs saw a net outflow of approximately $11 billion, while silver ETFs completely wiped out the net inflows they had seen since last summer. In contrast, Bitcoin ETFs recorded consistent net inflows during the same period.
