Gold and other hard assets are rallying on dollar weakness, but bitcoin is lagging as markets continue to treat it as a liquidity-sensitive risk asset.
Weaker dollar fails to spur bitcoin gains, but there's a reason for that, JPMorgan says
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JPMorgan says bitcoin is lagging while gold and other hard assets rally on dollar weakness as markets treat bitcoin as a liquidity-sensitive risk asset, JPMorgan said on Jan. 29, 2026.
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