Investors are abandoning bitcoin and gold, perhaps sensing a coming end to Middle East hostilities. JPMorgan says the pandemic-era “debasement trade,” centered on bitcoin and then gold, is cooling, with recent outflows from bitcoin and gold ETFs and reduced institutional futures positions reflecting a broader pullback from macro hedges. The bank's report suggested investors may be getting ahead of a U.S.-Iran peace deal. The “debasement trade” that drove strong demand for bitcoin BTC $ 72,…
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