{"id":5381,"date":"2025-11-06T22:19:17","date_gmt":"2025-11-06T22:19:17","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/11\/06\/jpmorgan-bitcoin-looks-cheap-compared-to-gold-bitcoin-price-to-170000\/"},"modified":"2025-11-06T22:19:17","modified_gmt":"2025-11-06T22:19:17","slug":"jpmorgan-bitcoin-looks-cheap-compared-to-gold-bitcoin-price-to-170000","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/11\/06\/jpmorgan-bitcoin-looks-cheap-compared-to-gold-bitcoin-price-to-170000\/","title":{"rendered":"JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000<\/a><\/p>\n

<\/div>\n

JPMorgan strategists say Bitcoin (BTC) now appears undervalued relative to gold<\/a> following a steep October sell-off driven by leveraged liquidations and market turmoil.<\/p>\n

Bitcoin fell more than 20% last month after hitting an all-time high of $126,000, a drop that JPMorgan\u2019s Nikolaos Panigirtzoglou attributed to heavy deleveraging in futures markets and fallout from a $128 million hack of the DeFi platform Balancer.\u00a0<\/p>\n

He noted<\/a> that the ratio of open interest in perpetual futures to Bitcoin\u2019s market capitalization has since returned to average levels, suggesting that \u201cexcess leverage has largely been cleared.\u201d<\/p>\n

ETF outflows have been modest compared to prior inflows, Panigirtzoglou added, pointing to a more stable market backdrop.\u00a0<\/p>\n

\u201cMost of the deleveraging activity is now behind us,\u201d he said, adding that the futures open interest ratio remains a key indicator for short-term price direction.<\/p>\n

On a volatility-adjusted basis, Bitcoin is now trading at a discount compared to gold. JPMorgan\u2019s analysis found<\/a> that as gold\u2019s price surged above $4,000 per ounce\u2014bringing higher volatility\u2014Bitcoin\u2019s own volatility subsided. To reach parity with gold\u2019s $6.2 trillion in private-sector investment on a risk-adjusted basis, Bitcoin\u2019s price would need to climb roughly two-thirds, to around $170,000.<\/p>\n

\u201cHaving been $36,000 too high compared with gold at the end of last year, Bitcoin is now around $68,000 too low,\u201d Panigirtzoglou wrote.<\/p>\n

\n

JUST IN: $3.4 trillion JPMorgan strategist says #Bitcoin<\/a> has \u201csignificant upside for the next 6-12 months\u201d over gold. pic.twitter.com\/KJlmnfsKes<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) November 6, 2025<\/a>\n<\/p><\/div>\n

With leverage normalized and volatility easing, JPMorgan sees room for \u201csignificant upside\u201d over the next six to twelve months if current conditions persist\u2014an outlook that could strengthen Bitcoin\u2019s appeal as a digital alternative to gold in investor portfolios.<\/p>\n

Bitcoin price update<\/h2>\n

Bitcoin is currently trading at $101,977 after a tumultuous October. Bitcoin kicked off October with bull\u2011momentum, hitting a fresh all\u2011time high<\/a> north of approximately $125,000\u2013$126,000 around October\u202f6.<\/p>\n

But that euphoria proved short-lived. Soon after the peak, Bitcoin came under pressure: a massive liquidation<\/a> of over $19\u202fbillion in perpetual futures contracts accelerated the unwind.<\/p>\n

Macroeconomic jitters \u2014 trade tensions, central\u2011bank ambiguity and risk\u2011asset weakening \u2014 compounded the correction.<\/p>\n

By month\u2011end, Bitcoin had recorded its first losing October since 2018, slipping around 4\u202f%\u20135\u202f% overall and suffering one of its worst October performances on record.\u00a0<\/p>\n

Despite the recent fall, the year\u2011to\u2010date picture remained positive \u2014 though less exuberant than some bulls expected.<\/p>\n

Earlier in October, JPMorgan put out some research that suggests Bitcoin could be undervalued versus gold<\/a>, with potential to rise to $165,000 based on volatility-adjusted comparisons and growing investor demand.<\/p>\n

This post JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine JPMorgan: Bitcoin Looks Cheap Compared to Gold, Bitcoin Price to $170,000 JPMorgan strategists say Bitcoin (BTC) now appears undervalued relative to gold following a steep October sell-off driven by leveraged liquidations and market turmoil. Bitcoin fell more than 20% last month after hitting an all-time high of $126,000, a drop that JPMorgan\u2019s Nikolaos […]<\/p>\n","protected":false},"author":0,"featured_media":5382,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-5381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=5381"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/5382"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=5381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=5381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=5381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}