News

BlockBeats News, March 27th, according to CoinDesk, a latest report released by JPMorgan Chase pointed out that amid outflows from gold and silver, position unwinds, and deteriorating liquidity, Bitcoin is demonstrating greater resilience compared to traditional safe-haven assets. The report noted that the deterioration in gold's liquidity conditions has pushed its market breadth below Bitcoin, marking a reversal of their typical relationship. Gold has experienced a cumulative drop of around 15% this month, plummeting significantly from its historical high near $5,500 per ounce in January; silver has also seen a sharp decline from its peak near $120. JPMorgan Chase attributed this to rising interest rates, a stronger US dollar, and widespread profit-taking by retail and institutional investors. Fund flow data reinforces this diverging pattern. In the first three weeks of March, gold ETFs saw outflows of nearly $11 billion, wiping out all the silver ETF inflows accumulated since last summer. In contrast, Bitcoin funds continued to see net inflows during the same period. Positioning data also shows differentiation. Based on CME futures open interest, the institutional activity indicator for gold and silver positions sharply dropped since the end of 2025 after a significant buildup, while Bitcoin futures positions have remained relatively stable since January. In terms of momentum indicators, trend-following investors such as Commodity Trading Advisors (CTAs) have substantially reduced their exposure to gold and silver, with relevant metrics plummeting from overbought territory; Bitcoin momentum has recovered from oversold levels to near the neutral range, indicating selling pressure is diminishing or easing.

According to Odaily, JPMorgan stated that under the backdrop of ETF capital outflows, worsening liquidity, and institutional deleveraging, gold and silver are under pressure, while Bitcoin demonstrates greater resilience and relatively stable capital inflows. Gold ETFs recorded a net outflow of nearly $11 billion in the first three weeks of March, with silver-related funds also seeing significant pullbacks. Combined with rising interest rates and a strengthening US dollar, this has driven precious metal prices lower. Meanwhile, Bitcoin funds continue to maintain net inflows, and market momentum is gradually improving. In terms of price performance, Bitcoin initially dropped along with risk assets to the $60,000 range during the early stages of geopolitical conflict, but then quickly stabilized and is currently fluctuating between $68,000 and $70,000, indicating that long-term capital has re-entered the market to support the price after a period of panic. In addition, position and momentum data have also diverged. Institutional positions in gold and silver futures have significantly declined since the beginning of the year, while positions in Bitcoin futures have remained generally stable. Trend-following funds have shifted from "overbought" in precious metals to below neutral levels, intensifying downward pressure, whereas Bitcoin has recovered from oversold territory and selling pressure has eased. Liquidity indicators show that the market breadth in gold has fallen below that of Bitcoin, and silver liquidity has further weakened. JPMorgan believes this change highlights that in the current macro and geopolitical environment, Bitcoin is gradually exhibiting performance characteristics distinct from traditional safe-haven assets.

According to Odaily, Nasdaq-listed company Hyperion DeFi has released its annual financial performance report, disclosing that as of March 23, its digital asset treasury held over 1.93 million HYPE (calculated at an average price of $38.2, totaling approximately $73.9 million), 1.92 million KNTQ, and 1 million HPL. Hyperion DeFi stated that in the fourth quarter of last year, the company earned 8,713 HYPE token rewards through staking, representing a 17% increase compared to the 7,437 HYPE token rewards in the third quarter. (Globenewswire)