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JPMorgan predicts increased interest in Bitcoin with possible Trump victory
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With the United States elections approaching, JPMorgan analysts point out that a possible victory for Donald Trump could strengthen Bitcoin’s upward momentum, especially through what they call “devaluation trades” among retail investors.
According to the report published on Wednesday (30), analysts observe a growing interest from these investors in assets such as Bitcoin and gold index funds (ETFs), seen as a hedge against currency devaluation.
“It appears that retail investors are embracing the ‘downside trade’ even more intensely by purchasing Bitcoin and gold ETFs,” wrote JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou. Furthermore, they highlighted that this investment impulse is reflected in memecoins and assets linked to artificial intelligence, whose market value has surpassed other assets.
In the last 48 hours, spot Bitcoin ETFs have seen an inflow of $1.3 billion, bringing the total accumulated in October to $4.4 billion to date. This increase represents the third largest monthly volume of inflows into Bitcoin ETFs since the launch of these products in January, driven by interest from retail investors looking for alternatives to protect themselves against currency devaluation.
US elections and the price of Bitcoin
Meanwhile, institutional investors have shown a more cautious stance towards the Bitcoin futures market in recent weeks. According to analysts, the activities of these investors in Chicago Mercantile Exchange (CME) futures contracts — used as a reference for the position of these agents — have been reduced, which indicates a pause.
“Bitcoin futures have become quite overbought, which could create vulnerabilities in the market from now on,” highlighted the analysts.
Gold ETFs have also seen continued inflows, reportedly led by retail investors. Meanwhile, institutional participation in the gold futures market continues at a more moderate pace.
“Overall, to the extent that a Trump victory inspires retail investors to not only acquire risky assets but also reinforce the ‘downside trade,’ there could be additional upside for Bitcoin and gold prices in a Trump victory scenario”, concluded JPMorgan analysts.
Previously, in October, the bank’s analysts had already indicated an optimistic view for the crypto market, with emphasis on the potential for appreciation in 2025. Among the factors highlighted are the strengthening of the “devaluation trade” and the possibility of a return of Donald Trump to the presidency of the United States.
JPMorgan predicts increased interest in Bitcoin with possible Trump victory
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JPMorgan predicts increased interest in Bitcoin with possible Trump victory
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JPMorgan predicts increased interest in Bitcoin with possible Trump victory
