According to Odaily, JPMorgan analyst Nikolaos Panigirtzoglou stated in a report on Wednesday that retail investors have been leaning towards the 'debasement trade' by purchasing Bitcoin and gold exchange-traded funds (ETFs) ahead of the US presidential election on November 5. Panigirtzoglou noted that institutional investor activity appears to have paused over the past two weeks, as indicated by the changes in cumulative open interest in CME Bitcoin futures. He pointed out that Bitcoin futures have become 'quite overbought' and may face vulnerabilities in the 'future.' The situation is similar for gold, with retail investors continuing to buy gold ETFs while trading activity in gold futures has stalled.

#BTC #ETF