JPMorgan: MicroStrategy's Stable Holdings May Determine Bitcoin's Short-Term Direction

According to reports, JPMorgan analysts suggest that MicroStrategy's Bitcoin holding strategy may dictate the short-term trend of Bitcoin. Although miners are facing some selling pressure due to high production costs, the company has $1.44 billion in cash reserves, which can support debt payments for the next two years, reducing potential selling pressure risk. Meanwhile, JPMorgan continues to maintain its mid-term theoretical price target for Bitcoin at around $170,000.