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JPMorgan issues stark warning on 2026's most crowded trade
JPMorgan Chase says investors are stepping back from one of this year's most popular trades, and both Bitcoin (BTC) and gold are feeling it. For most of 2026, the logic was pretty simple. Conflict in the Middle East pushed oil prices higher, which led to inflation fears creeping back in. Investors moved capital into assets that hold value when currencies don't. Meaning, they bought gold and Bitcoin. They called it the debasement trade. However, that trade now seems to be losing steam. In a research note published May 28, JPMorgan analysts led by managing director Nikolaos Panigirtzoglou flagged simultaneous outflows ... (full story)