BlockBeats News, April 17th, according to The Block, analysts from JPMorgan Chase reported that the flight to safety is driving up the price of gold, while Bitcoin has failed to benefit from it.
In a report released on Wednesday, the JPMorgan Chase analyst team led by Managing Director Nikolaos Panigirtzoglou pointed out that due to macroeconomic uncertainty, investors seeking safety are driving funds into gold exchange-traded funds (ETFs) and the futures market.
In contrast, Bitcoin is being left behind. Analysts noted that speculative interest in the Bitcoin futures market is waning, and ETFs are also experiencing consecutive outflows.
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