Bitcoin is gaining momentum as investor attention shifts away from gold according to JPMorgan analysts. The once-popular debasement trade where both assets rose together has now split with bitcoin climbing and gold slipping. Since April 22 gold has dropped nearly 8 percent while bitcoin jumped 18 percent showing a clear trend in shifting investor preference.

Analysts point to a wave of crypto-specific catalysts fueling bitcoin’s rise. Companies like Strategy and Metaplanet are heavily investing in bitcoin with Strategy aiming to raise over $42 billion by 2027 and already reaching 60 percent of that goal. U S states such as New Hampshire and Arizona are adding bitcoin to their reserves creating long-term demand and boosting confidence in the asset.

Bitcoin is also benefiting from a more mature crypto market. Major U S exchanges including Coinbase and Kraken have acquired key derivatives platforms increasing institutional access and regulatory clarity. With gold weakening and crypto innovation accelerating analysts see strong upside potential for bitcoin in the second half of 2025.