JPMorgan analysts say that investors have recently been pulling out of the 'Debasement Trade,' which focuses on hedging against currency depreciation, inflation, and geopolitical risks. Among these, allocations related to gold have been steadily declining, while the pace of Bitcoin outflows has accelerated further. Analysts noted that as of the week ending June 5, gold ETFs saw a net outflow of approximately $20 billion, and Bitcoin ETFs have recorded outflows for four consecutive weeks, with the scale gradually increasing. Data on ETF fund flows, futures positions, and investor asset allocations all indicate that this trading theme is cooling off. JPMorgan also mentioned that Bitcoin and gold have recently shown stronger correlations with risk assets, while their role as portfolio diversification tools has weakened. (The Block) https://(wublock123.com)/news/news-62640