When BTC fell below 90,000, retail investors were liquidating their positions, while JPMorgan was busy calculating a different number—$170,000.

Yes, that’s the most conservative Wall Street investment bank. Recently, they released a report: according to the “Bitcoin = digital gold” model projection, in the next 6 to 12 months, BTC’s theoretical price could reach $170,000. What does this mean? From now, there’s still 84% upside potential.

After a more than 30% plunge from the $126,000 high, bearish sentiment is everywhere. But traditional financial institutions don’t see a crash—they see an opportunity to reprice after volatility adjustment.

The core variable for this cycle is actually very clear: will institutional holders loosen their grip?

Take Strategy, for example. This company holds around 650,000 bitcoins, making it more than just an ordinary player—it’s a “system-level presence” that can sway market sentiment. Every move it makes could rewrite short-term price trends.

So when you see panic selling, someone else is calculating entry costs in an Excel spreadsheet. The market never lacks stories; what it lacks is the patience to weather volatility.