Bitcoin Rebounds Above $60K in First Mover Americas
JPMorgan stated in a research report on Wednesday that geopolitical tension and the upcoming U.S. presidential election are likely to support the ‘debasement trade,’ benefiting both bitcoin and gold. According to analysts, a potential Trump victory would further strengthen this trade through tariffs (geopolitical tensions) and an expansionary fiscal policy (‘debt debasement’). If the “Trump trade” follows a similar pattern to 2016, there could be an increase in U.S. Treasury yields, a stronger dollar, U.S. stock market outperformance – particularly in the banking sector – and tighter credit spreads, the report noted. However, these market shifts have not yet materialized, with only a slight increase observed so far.
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