US Stock Market Move | The concept stocks of cryptocurrency collectively strengthened, with Bit Digital (BTBT.US) rising over 9%.

On Friday, cryptocurrency-related stocks collectively strengthened, with Bit Digital (BTBT.US) rising more than 9%, Coinbase (COIN.US) rising 6%, BIT Mining Limited Sponsored ADR Class A (BTCM.US) rising more than 5%, and Canaan Inc. Sponsored ADR Class A (CAN.US) rising nearly 3%. JPMorgan Chase stated in a research report this week that since the peak of gold prices reaching $3500 on April 22nd, gold has fallen by nearly 8%, while bitcoin prices have risen by 18% during the same period. This pattern of one falling while the other rises is expected to continue until the end of the year, but several positive catalysts unique to cryptocurrencies may make bitcoin perform better than gold in the second half of the year. JPMorgan Chase mentioned that the behavior of retail and private investors shows that physical gold and spot ETFs are experiencing outflows, while bitcoin/cryptocurrency ETFs are experiencing inflows. The futures market is also showing a similar trend, with gold futures continuing to decline while bitcoin futures are significantly increasing, which is the opposite of the tariff events that occurred between mid-February to mid-April this year.