[JPMorgan: Bitcoin and Gold 'Devaluation Trades' Cool Down as Investors Exit Safe-Haven Assets] According to CoinDesk, JPMorgan analysts Nikolaos Panigirtzoglou and others stated that as signs of easing tensions in the Middle East emerge, investors are gradually withdrawing from the Bitcoin and gold markets, with the 'devaluation trades' that once drove demand for both assets losing momentum. Over the past two weeks, Bitcoin and gold-related ETFs have seen significant outflows, and institutional positions in the CME futures market have also weakened simultaneously. This trend indicates that investors are moving away from the macro hedging trades that gained popularity earlier due to inflation concerns and global instability. Notably, this is not a case of Bitcoin funds shifting to gold but rather a simultaneous decline in demand for both asset classes. Since the Iran conflict, Bitcoin has been a primary representation of the 'devaluation trade.'