JPMorgan: Bitcoin Could Outperform Gold as ETF Shorts Unwind
- —IBIT short interest near yearly high; GLD short interest below historical average
- —IBIT put-to-call open interest ratio exceeds that of GLD
- —Gold ETFs recovered all 2026 outflows; Bitcoin ETFs only about half
- —Wallets holding 100+ BTC accumulated roughly 115,000 BTC from January to mid-September
Why it matters: Unwinding ETF shorts and hedges could give Bitcoin more upside than gold, though $83,000–86,000 remains a key resistance zone.
Source: ZyCrypto