Bitcoin Price Prediction as JPMorgan Predicts Bitcoin Could Hit $126K as It Closes Valuation Gap With Gold
JPMorgan says Bitcoin is undervalued compared to gold and could rise 13% to $126k, supported by lower volatility and growing adoption.
Bitcoin price has dropped 3.23% in the last 24 hours, to trade at $108,387.03, on a 27.49% increase in the daily trading volume, to $76.64 billion.
The Bitcoin price is back in focus as banking giant JPMorgan predicts BTC could rally to $126,000 in the coming cycle. According to JPMorgan’s analysts, Bitcoin is still undervalued when compared with gold.
They argue that if Bitcoin takes just a slice of gold’s total valuation, especially as digital assets attract more institutional and global adoption, the coin price has plenty of room to run.
The report comes as Bitcoin price consolidates around $108,000 after peaking at $124,501 earlier this month. Institutional demand is growing after spot Bitcoin ETFs gained traction in the U.S., bringing fresh capital into crypto markets.
JPMorgan’s call is energising retail and professional traders, reminding the market that even after a giant rally, Bitcoin’s narrative as “digital gold” has more runway.
Macro forces are working in Bitcoin’s favour. Inflation concerns, central bank balance sheets, and the rising interest among big money players have created a steady, ongoing bid for Bitcoin. As more sovereigns and pension funds eye cryptocurrency, the gap between gold and Bitcoin’s total valuation looks primed to narrow, just as JPMorgan argues.
Bitcoin Price On-Chain Metrics and Supply Signals Supportive of More Upside
On-chain data for Bitcoin remains strong, stoking optimism for the coin price. Bitcoin balances on exchanges linger near multi-year lows as investors move BTC into cold storage and long-term holding. This trend restricts supply, which can fuel price gains when demand rises.
BTC Number of Active Addresses Source: Glassnode
The number of wallets with at least 1 BTC continues to grow, confirming broad-based accumulation from retail and whales alike. Daily transaction volumes are steady. Hashrate and network security are at historic highs, supporting confidence in the blockchain.
Recent weeks have brought modest increases in large transfers, showing that institutions and funds are still reallocating to Bitcoin. Supply is limited by the recent halving, a key feature highlighted by JPMorgan as central to the “digital gold” thesis.
Bitcoin’s realised price is up, meaning the average holder is now more in profit. This normally supports stronger hands and decreases the odds of mass sell-offs.
BTC Price: Bulls Eye $126,000 After Key Breakout
Reviewing the monthly BTCUSD chart, Bitcoin trades at $108,394, just off recent highs. The candles show steady action well above the 50-month simple moving average at $52,028 and even further from the 200-month SMA at $15,448. Both lines are rising, a classic sign of continued strength and an established long-term uptrend.
BTCUSD Analysis Source: Tradingview
Momentum signals echo the strength. The monthly RSI is at 67.32, sitting just under the overbought line. Buying remains strong, though a period of sideways price action wouldn’t surprise me after such a run.
The MACD also shows robust momentum, with the main line far above the signal: 2,364.48 against 15,448.62. Key support sits near $70,000 and $52,000; both were tested and held multiple times over the last two years.
On the upside, resistance waits just above $124,500, near this year’s peak. A solid close above this level, backed by high trading volume, opens up room for a move to $126,000 and potentially higher. The current setup favours more gains as long as the price stays above $100,000 and the core moving averages.
Should the gap between gold’s and Bitcoin’s value narrow as analysts expect, targets above $125,000 look realistic. Markets are watching to see if buyers step in quickly on any dips, setting the stage for a possible new high.
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