{"id":7888,"date":"2026-03-27T08:15:39","date_gmt":"2026-03-27T08:15:39","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=7888"},"modified":"2026-03-27T08:15:39","modified_gmt":"2026-03-27T08:15:39","slug":"jpmorgan-says-bitcoin-holds-strong-while-gold-and-silver-lose-their-shine","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=7888","title":{"rendered":"JPMorgan Says Bitcoin Holds Strong While Gold And Silver Lose Their Shine"},"content":{"rendered":"

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  • Gold ETFs recorded approximately US$11 billion in outflows in the first three weeks of March, led by SPDR Gold Shares\u2019 record US$7 billion (AU$10.07 billion) monthly redemption.<\/span><\/li>\n
  • JPMorgan analyst Nikolaos Panigirtzoglou noted that gold\u2019s market liquidity has \u201cdeteriorated below bitcoin\u2019s for the first time,\u201d marking a historic shift in relative market depth.<\/span><\/li>\n
  • Gold has fallen roughly 15% from its January record near US$5,500 per ounce, while Bitcoin stabilised around US$69,000 after an initial drawdown when the Iran conflict began on Feb. 28.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Bitcoin (BTC) held up better than gold and silver during the Iran conflict, as heavy outflows from precious metals funds contrasted with continued inflows into spot Bitcoin ETFs and a shift in market correlations.<\/p>\n

    In a March 26 report, JPMorgan analyst Nikolaos Panigirtzoglou said gold market liquidity had fallen below Bitcoin\u2019s for the first time.\u00a0<\/p>\n

    The bank linked the selloff in metals to profit-taking in crowded trades, higher interest rates tied to war-driven inflation, and a stronger U.S. dollar.\u00a0<\/p>\n

    Gold has fallen about 15% from a January high near US$5,500 (AU$8,415) per ounce to about US$4,450 (AU$6,809), marking its steepest weekly drop in more than 14 years. Silver dropped from nearly US$120 (AU$184) per ounce to US$69 (AU$106).<\/p>\n

    Moreover, Gold ETFs lost about US$11 billion (AU$16.83 billion) in the first three weeks of March. SPDR Gold Shares alone saw US$7 billion (AU$10.71 billion) in monthly outflows, including US$3 billion (AU$4.59 billion) on March 6, its biggest one-day withdrawal in two years.\u00a0<\/p>\n

    iShares Gold Trust lost US$3.77 billion (AU$5.77 billion), while silver ETF inflows built up since mid-2025 were fully erased.<\/p>\n

    Related: Analyst Says Bitcoin Eyes $80K as Key Level Faces Breakout Pressure<\/strong><\/p>\n

    ETF Flows Tell the Story<\/h2>\n

    Bitcoin ETFs moved the other way, drawing about US$2.5 billion (AU$3.83 billion) in March. BlackRock\u2019s IBIT brought in US$1.1 billion (AU$1.68 billion) between March 2 and 4 and posted seven straight inflow days from March 9 to 17, totaling US$1.47 billion (AU$2.25 billion).\u00a0<\/p>\n

    Bitcoin initially dropped when the Iran conflict began on Feb. 28, falling from about US$66,000 (AU$100,980) to US$63,000 (AU$96,390), wiping roughly US$128 billion (AU$195.84 billion) in market value.\u00a0<\/p>\n

    BTC then rebounded to US$73,156 (AU$111,929) by March 5. Over the same period, the BTC-gold correlation moved from -0.49 to +0.16, which JPMorgan called a statistically significant regime change.<\/p>\n

    Selling by long-term Bitcoin holders also eased. Their 30-day net position change improved from -243,737 BTC on Feb. 5 to -31,967 BTC by March 1, an 87% reduction.\u00a0<\/p>\n

    Related: 21Shares Bets on Active ETFs as Crypto Investing Enters Its Next Phase<\/strong><\/p>\n

    Even so, JPMorgan described the move as \u201csafe-haven-like demand\u201d rather than proof Bitcoin has become a full safe haven. That caution was reinforced by a US$129 million (AU$197 million) one-day ETF outflow after the FOMC on March 18, showing Bitcoin remains exposed to broader macro shocks.<\/p>\n<\/p><\/div>\n

    Bitcoin,Gold,JPMorgan#JPMorgan #Bitcoin #Holds #Strong #Gold #Silver #Lose #Shine1774599339<\/p>\n","protected":false},"excerpt":{"rendered":"

    Gold ETFs recorded approximately US$11 billion in outflows in the first three weeks of March, led by SPDR Gold Shares\u2019 record US$7 billion (AU$10.07 billion) monthly redemption. JPMorgan analyst Nikolaos Panigirtzoglou noted that gold\u2019s market liquidity has \u201cdeteriorated below bitcoin\u2019s for the first time,\u201d marking a historic shift in relative market depth. Gold has fallen<\/p>\n","protected":false},"author":1,"featured_media":7889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[91,243,372,962,1929,177,197,1217],"class_list":{"0":"post-7888","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-bitcoin","9":"tag-gold","10":"tag-holds","11":"tag-jpmorgan","12":"tag-lose","13":"tag-shine","14":"tag-silver","15":"tag-strong"},"yoast_head":"\nJPMorgan Says Bitcoin Holds Strong While Gold And Silver Lose Their Shine - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=7888\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Says Bitcoin Holds Strong While Gold And Silver Lose Their Shine\" \/>\n<meta property=\"og:description\" content=\"Gold ETFs recorded approximately US$11 billion in outflows in the first three weeks of March, led by SPDR Gold Shares\u2019 record US$7 billion (AU$10.07 billion) monthly redemption. 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