JPMorgan sees Bitcoin as undervalued: target price of $170,000!

JPMorgan sees Bitcoin as undervalued: target price of $170,000!

On November 9, 2025, the investment bank JPMorgan Chase published a comprehensive analysis of the current market situation for Bitcoin. The report notes that Bitcoin is currently viewed as undervalued, particularly evident after a significant price decline in October.

Bitcoin price fell over 20% to $99,000 last month after peaking at $126,000. This decline event was largely caused by heavy deleveraging in the futures markets. According to the firm's analysts, leverage levels have now returned to normal, making Bitcoin look more attractive compared to gold on a volatility-adjusted basis and fueling price predictions.

Market analysis and price correction

JPMorgan analysts, led by strategist Nikolaos Panigirtzoglou, argue that for Bitcoin to reach the value of gold in private investments, it would have to rise by two-thirds. This would equate to a target price of $170,000. Panigirtzoglou is optimistic that futures unwinding is now complete, which could provide a more stable near-term outlook for Bitcoin.

Currently, Bitcoin price is at $101,906, down 0.36% in the last 24 hours. However, the market appears to be gradually recovering after the turbulent weeks, which investors are watching.

Comparison with gold

The comparison between Bitcoin and gold is of great importance to many investors. While gold is traditionally viewed as a safe haven, JPMorgan sees a lot of potential in Bitcoin, especially at a time of increased inflation and geopolitical uncertainty. These factors could help Bitcoin establish itself as a valuable alternative.

Overall, JPMorgan Chase's analysis suggests that Bitcoin could potentially re-enter an upcycle, supported by the normalization of leverage levels and stabilization in the market. Investors will be following developments closely over the next few weeks to better understand the cryptocurrency's dynamics and make informed decisions.

For more information on current developments in the cryptocurrency market, interested readers can view the full report Daily Hodl see.