$BTC $IBIT JPMORGAN JUST DROPPED A BIG BITCOIN SIGNAL
JPMorgan says Bitcoin could get more support than gold if investors start unwinding their ETF hedges.....
And this part caught my attention 👀
BlackRock’s $IBIT short interest is still near its highest level of the year while put activity is also relatively elevated compared with gold’s GLD ETF
That means Bitcoin positioning is still much more defensive than gold.....
If investors start closing those hedges while keeping their underlying BTC exposure..... short covering and reduced downside protection could add another layer of buying pressure 📈
But this is NOT JPMorgan saying BTC is guaranteed to explode
It’s a positioning setup they believe could favor Bitcoin if hedging demand starts to fade
Now the question is.....
What happens if all those $BTC hedges start coming off? 👀
JPMorgan says Bitcoin could get more support than gold if investors start unwinding their ETF hedges.....
And this part caught my attention 👀
BlackRock’s $IBIT short interest is still near its highest level of the year while put activity is also relatively elevated compared with gold’s GLD ETF
That means Bitcoin positioning is still much more defensive than gold.....
If investors start closing those hedges while keeping their underlying BTC exposure..... short covering and reduced downside protection could add another layer of buying pressure 📈
But this is NOT JPMorgan saying BTC is guaranteed to explode
It’s a positioning setup they believe could favor Bitcoin if hedging demand starts to fade
Now the question is.....
What happens if all those $BTC hedges start coming off? 👀
