JPMorgan Chase: Bitcoin's' currency devaluation transaction 'is receding rapidly Odaily Planet Daily News: Morgan Stanley analysts have stated that investors are continuing to withdraw from so-called "currency devaluation trades," with gold related allocations continuing to fall, while the ebb rate of Bitcoin has further accelerated in recent times. The report indicates that as of the week ending June 5th, gold ETFs had outflows of approximately $20 billion; The Bitcoin ETF has seen gradually expanding outflows of funds for four consecutive weeks. In the futures market, institutional investors are also reducing their exposure to gold and Bitcoin, indicating that both retail and institutional funds are reducing their allocation to combat inflation, currency depreciation, and geopolitical risks. JPMorgan Chase believes that Bitcoin, which had previously been the main expression of "currency devaluation transactions" since the Middle East conflict, has reversed since early May and further weakened in recent times. At the same time, the decrease in liquidity in ETFs and futures markets has also amplified the price correction of Bitcoin. Analysts added that whether the cryptocurrency market can improve in the second half of the year still depends on two key factors: whether cryptocurrency treasury companies can provide clearer arrangements for dividend payments, and whether the US Clarity Act can be approved.