JPMorgan says Bitcoin could climb to around $165,000

Uptober gains have attracted groundbreaking predictions led by banking giant ￰0￱ per the financial giant, Bitcoin could climb to around $165,000 on a volatility-adjusted basis relative to ￰1￱ Wall Street lender’s models indicate that Bitcoin would need to rise approximately 40% from current levels to match the scale of private gold holdings once risk is factored ￰2￱ is one of the best months for crypto, bringing new hope after a gloomy ￰3￱ year’s October will favour the crypto market even more because of the so-called “debasement trade” that continues to gain ￰4￱ debasement trade involves buying assets such as gold or Bitcoin to hedge against the devaluation of fiat ￰5￱ IN: $3.6 trillion JPMorgan says Bitcoin is undervalued compared to ￰6￱ $BTC could reach $165,000.

pic. twitter. com/Y48ZM6yhoy — ￰7￱ (@WatcherGuru) October 2, 2025 To that end, the retail investors have accelerated their embrace of the debasement trade, pouring into both Bitcoin and gold exchange-traded funds over the past ￰8￱ rise in gold prices made BTC more appealing JPMorgan says that most of the activity is coming from retail ￰9￱ buyers have also been participating, primarily through Bitcoin and gold futures on the Chicago Mercantile Exchange (CME), rather than ￰10￱ on open interest, the bank’s proxy shows that institutions have been net buyers since 2024. However, there has been a lull in their buying ￰11￱ sharp rise in gold prices over the past month has also made BTC more appealing, as the volatility ratio between Bitcoin and gold has dropped below ￰12￱ change suggests that the bank still views Bitcoin as being worth less than gold.

However, its price is currently $50,000 less than what JPMorgan’s model says it should ￰13￱ led by Nikolaos Panigirtzoglou say that flows into these assets have been on the rise since late ￰14￱ trend began before the US election and has continued to gain momentum ever ￰15￱ about long-term inflation, growing government deficits, questions about the independence of the Federal Reserve, a loss of trust in fiat currencies in some emerging markets, and a larger move to move away from the US dollar prompted the analysts to make the deal. Besides, JP Morgan, on-chain analytics firm CryptoQuant has said that Bitcoin could reach a price range of $160,000 to $200,000 by year’s end if demand continues to ￰16￱ to the firm, Spot demand for bitcoin has been rising since July, with apparent demand increasing at a monthly pace of more than 62,000 ￰17￱ kind of sustained demand has preceded previous fourth-quarter rallies in 2020, 2021, and ￰18￱ addition, traders are braced for a 2026 bitcoin price ￰19￱ Donald Trump’s son Eric has said he expects Bitcoin price to go to $1 million as crypto replaces the established financial industry.

A three-day streak of $100 million-plus BTC ETF inflows JPMorgan stated that the total amount of money invested in live Bitcoin and gold ETFs has increased ￰20￱ exchange-traded funds (ETFs) grew faster than gold at first this year, especially after “Liberation Day.” But since August, gold ETF inflows have been catching up, closing the ￰21￱ ETFs have recorded their highest single-day inflows since ￰22￱ to on-chain data, BTC ETFs attracted $675.8 million worth of inflows on Wednesday. BlackRock’s IBIT fund, currently the world’s largest Bitcoin fund, led the charge with $405.5 million of inflows. Fidelity’s FBTC fund attracted $179.3 million, while Bitwise’s BITB fund attracted $59.4 million.

Yesterday’s gains mark a three-day streak of $100 million-plus inflows since the start of the week, with BTC ETFs attracting $518 million on Monday, September 29, and $429.9 million on Tuesday, September 30. Meanwhile, the world’s largest crypto coin by market capitalization rose by over 7% in the past 7 days, currently trading at $119,693. This marks BTC’s strongest price since ￰23￱ Bybit now and claim a $50 bonus in minutes