#JPMorgan JPMorgan says bitcoin futures oversold as silver flips overbought, sees $8,500 gold long term
JPMorgan says momentum indicators show bitcoin futures are oversold, while gold and silver futures are overbought, reflecting heavy positioning in precious metals by institutional and momentum traders.
The bank said retail investors have shifted away from bitcoin toward gold and silver since August and noted a long-term gold price scenario of $8,000–$8,500, based on rising allocations by private investors and central banks.