Before President Trump’s announcements at 19:00, Bitcoin’s price dipped below 102,000 dollars. With the uncertainty surrounding Trump’s statements, the market eagerly awaits the updates. Meanwhile, JPMorgan shares an optimistic forecast to uplift the spirits of those feeling discouraged by the recent downturns.
Reasons behind JPMorgan’s Confidence
JPMorgan’s analysts have unveiled their reasons for predicting Bitcoin’s price will reach 170,000 dollars in the next 6-12 months. Nikolaos Panigirtzoglou and other analysts highlight the sequential liquidation events, emphasizing the occurrences post the October 10th historic liquidations and the subsequent limited liquidations on November 3rd.
The analysts link this month’s decrease to the 120-million-dollar Balancer hack incident, noting the rising concerns about protocol security among investors. However, they assert that the de-leveraging phase in futures has ended after the chain liquidations. Leverage ratios are normalizing to historical levels on Ethereum 
$3,139 as well.
“Conversely, in CME futures, there has been more liquidation in Ethereum compared to Bitcoin 
$91,967 futures. Overall, we find perpetual futures to be the most crucial instruments to monitor right now,” JPMorgan mentions. The stability achieved recently indicates that the de-leveraging in perpetual futures might have concluded.”
JPMorgan’s Bitcoin Price Aim
Analysts note that the fluctuations in gold prices have favored Bitcoin; the Bitcoin-gold volatility ratio has dropped below 2.0, potentially attracting more capital to the leading cryptocurrency. Comparing gold and Bitcoin, JPMorgan foresees a 67% increase in total inflows via ETFs and stock investments, considering 170,000 dollars a conceivable target.
JPMorgan analysts frequently compare Bitcoin to gold, maintaining that Bitcoin is still significantly undervalued compared to gold. They raised their year-end price ceiling to 165,000 dollars. Their August 2025 prediction for August 2026 was 126,000 dollars. This ceiling was breached on October 6, but the rapid decline followed Trump’s confrontation with China.
Although analysts cannot foresee the future, they remain optimistic due to several factors, such as entering a formal phase of monetary easing by December and more major corporations planning to offer cryptocurrency services.
