JPMorgan Forecasts Bitcoin at $170,000 Within 12 Months Following Futures Deleveraging

JPMorgan analysts project Bitcoin could reach $170,000 in the next six to twelve months, representing a 67% increase from the current $101,000 level. The forecast follows significant deleveraging in perpetual futures markets triggered by major liquidations on October 10 and November 3. On-chain data reveals substantial whale accumulation during the recent price correction, though the Coinbase premium remains negative, indicating limited institutional appetite from U.S.-based investors.