Analysts: Bitcoin, US dollar and stocks are the three most vulnerable assets

JPMorgan analysts said in a report that from the perspective of investor positioning, Bitcoin, the U.S. dollar and stocks are the most vulnerable asset classes. Positions in Bitcoin, the U.S. dollar and stocks appear to be increasing as investors bet that these assets will rise. Elsewhere, bond and credit positions are close to neutral, while commodity positions excluding gold are decreasing. "Therefore, from a positioning perspective, the most vulnerable asset classes entering 2025 are stocks, the U.S. dollar and Bitcoin, while the opposite is non-gold commodities."