JPMorgan says bitcoin's lower volatility relative to gold might make it 'more attractive' in long term

Core Insights - Bitcoin has diverged from traditional safe havens like gold and silver, which may not negatively impact its future according to JPMorgan analysts [1] - Gold has surged over 60% in 2025 due to central bank buying and demand for safety, while Bitcoin has faced declines and underperformed major risk assets [2] Group 1: Market Performance - Digital assets have faced pressure as risk assets, particularly in tech, have declined, while gold and silver have experienced a sharp correction [3] - The selloff has negatively impacted spot Bitcoin and ether ETFs, indicating a broad negative sentiment among both institutional and retail investors [4] Group 2: Long-term Outlook - Despite recent underperformance, JPMorgan sees a long-term case for Bitcoin, noting that gold has outperformed Bitcoin since last October but with higher volatility [5] - If Bitcoin were to match gold's recent volatility, its price would need to rise to approximately $266,000, which analysts consider an unrealistic target for this year but indicative of Bitcoin's long-term potential as a safe haven [6]