ChainCatcher news, analysts from JPMorgan Chase indicate that the escalating geopolitical tensions and the presidential election in November are prompting investors to view gold and Bitcoin as safe-haven assets, or "devaluation trades".
Analysts say this "devaluation trade" is driven by a variety of factors, including increased geopolitical uncertainty since 2022, ongoing inflation concerns, massive government deficits in major economies, and weakened confidence in fiat currencies, especially in some emerging markets.