After major deleveraging, bitcoin now has ‘significant upside' and looks more attractive than gold, claims JPMorgan

Core Insights - The decline in Bitcoin futures is attributed to deleveraging activities, indicating a significant reduction in leveraged positions within the market [1] - On a volatility-adjusted basis, Bitcoin appears to be cheaper than gold, suggesting a potential investment opportunity in the cryptocurrency sector [1] Group 1 - Deleveraging in Bitcoin futures has led to a notable decline in its value [1] - Bitcoin's current pricing, when adjusted for volatility, shows it is more affordable compared to gold [1]