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JPMorgan (JPM) Says Bitcoin's (BTC) Lower Volatility Relative to Gold Might Make It 'More Attractive' in Long Term

JPMorgan analysts note bitcoin's lower volatility relative to gold may increase its appeal as a long-term safe haven despite recent underperformance and market pressure.

  • Lower volatility in bitcoin compared with gold suggests it could become more attractive as a long-term safe haven, according to JPMorgan analysts.
  • Gold surged more than 60% in 2025 on sustained central bank buying and flight-to-safety demand, while the report said gold has outperformed Bitcoin since last October with sharply higher volatility.
  • A selloff over the past week spilled into spot bitcoin and ether ETFs, signaling broad negative sentiment among institutional and retail investors, while stablecoin supply contracted, adding liquidity stress.
  • JPMorgan's report suggests the widening gap reflects bitcoin's fading appeal as a hedge, while the spillover into spot bitcoin and ether ETFs signals investor pressure.
  • Looking further ahead, JPMorgan analysts said `this $266k volatility-adjusted comparison to gold is in our opinion an unrealistic target for this year, but it shows the upside potential over the long term` and still see a case for bitcoin's lower volatility as supportive.
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  • 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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Coingape broke the news in on Thursday, February 5, 2026.
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