OG bitcoin whales are dumping and sentiment is horrible. Meanwhile, JPMorgan has a $170k price target and 99.5% of funds in the spot bitcoin ETFs haven't sold in this 20% drawdown. A complete inversion of pre-2024 norms. This is a totally different market now.
JPMorgan predicting bitcoin at $170k in next 6-12mo, says perp deleveraging is behind us and that's it undervalued vs gold historically, which implies "significant upside next 6-12mo"
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