Bitcoin falls below $68,000 as JPMorgan sees long-term upside vs gold

Beincrypto writes that Bitcoin fell below $70,000 before extending down to below $68,000 as ETF outflows, fading demand and a phase of forced deleveraging in futures markets drove intensified selling and weak volumes. JPMorgan says Bitcoin’s risk‑adjusted outlook now appears stronger than gold over the long term, noting BTC is trading well below an estimated production cost of $87,000 and that its volatility relative to gold has dropped to record lows, which the bank says suggests upside for multi‑year holders.

Market metrics highlight stress: Glassnode’s capitulation metric recorded its second‑largest spike in two years, and crypto equities and ETF holdings slid, with several crypto‑related stocks falling in premarket trading.