JPMorgan: Bitcoin futures are oversold, while gold and silver futures have entered the overbought zone

JPMorgan stated that momentum indicators show Bitcoin futures are oversold, while gold and silver futures are overbought, reflecting significant positions by institutional and momentum traders in precious metals.

The bank noted that since then, retail investors have shifted from Bitcoin to gold and silver, and pointed out that based on the increasing allocations from private investors and central banks, the long-term price expectation for gold is between $8,000 and $8,500 per ounce.