🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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JPMorgan Bitcoin Gold Says It Couldn't Do Its Job: Support Level Shared! - Coin Newsletter
Unlike Bitcoin's (BTC), gold is gaining a lot of attention in exchange-traded fund (ETF) and futures markets, with investors looking for a safe haven amid macroeconomic uncertainties.
According to a report by JPMorgan analysts, led by managing director Nikolaos Panigirtzoglou, gold is meeting investors' search for safe havens by seeing large flows in both ETFs and futures. In the first quarter of 2025, there was a net inflow of $21.1 billion into gold ETFs worldwide. Only $2.3 billion of these inflows came from China and Hong Kong ETFs.
According to analysts, this figure represents about 6% of the total holdings of global gold ETFs** while China and Hong Kong gold ETFs indicate that the growth rate in the region is higher.
Gold futures are also seeing more buying by speculative investors from February onwards. However, Bitcoin has not been able to take advantage of these safe-haven flows. According to analysts, Bitcoin's adoption as **"digital gold" has been under pressure lately, while gold continues to receive strong demand.
Analysts at JPMorgan stated that the production cost of Bitcoin is around $62,000, which is an important support level. However, with the rise of gold as a safe haven, Bitcoin seems to have failed to catch up with this demand.