JPMorgan analysts predict that Bitcoin could skyrocket to approximately $170,000 in the next 6 to 12 months.
This optimistic forecast is based on a readjustment of leverage in the crypto market and an expected improvement in Bitcoin's volatility relative to gold.
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Despite a market correction of nearly 20%, driven by record futures liquidations and a major DeFi exploit, analysts believe that the most intense deleveraging phase is now over.
They point to the normalization of open interest in perpetual futures as a key sign that the market has stabilized and is poised for a significant upward move.