According to ChainCatcher, citing The Block, Morgan Stanley analysts stated that safe-haven demand is driving up gold prices, while Bitcoin has not benefited from this trend.
In a report released on Wednesday, a team of analysts led by Managing Director Nikolaos Panigirtzoglou pointed out that due to macroeconomic uncertainty, investors seeking safe havens are driving funds into gold exchange-traded funds (ETFs) and futures markets.
In contrast, Bitcoin has been left behind. Analysts noted that speculative interest in Bitcoin futures markets is waning, and ETFs have been experiencing consecutive outflows.
