JPMorgan says Strategy's resilience is key to $BTC bitcoin's price direction in the near term
Quick Take
👉 Strategy’s ability to keep its enterprise-value-to-bitcoin-holdings ratio above 1 and avoid selling $BTC bitcoin is the key driver of bitcoin’s near-term price direction, according to JPMorgan analysts.
👉 The analysts added that their volatility-adjusted comparison of bitcoin to gold still points to a theoretical bitcoin price of around $170,000 over the next 6–12 months.
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BlackRock Bitcoin ETF Sheds $2.7 Billion in Record Outflows Run
Investors yanked more than $2.7 billion from the exchange-traded fund over the five weeks to Nov. 28, according to data compiled by Bloomberg. With an additional $113 million of redemptions on Thursday, the ETF is now on pace for a sixth straight week of net outflows.
wThey ‘Bought More’—BlackRock CEO Reveals Sovereign Fund Bitcoin Price Bombshell Alongside A Stark Trump Warning
$BTC Bitcoin and crypto prices have bounced back this week as the market braces for a massive Federal Reserve December flip.
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The bitcoin price has charted its best day since May as it adds 10% to top $93,000, up from lows of under $84,000 earlier this week and putting it back within touching distance of a $2 trillion market capitalization, with traders betting on a 2026 game-changer.
Michael Saylor’s Strategy may have BlackRock to thank for the 11% rise in $BTC Bitcoin
$BTC Bitcoin is holding at just above $93,000 per coin this morning after staging a nearly 11% rally since its low on Nov. 22 of just above $84,000. Its recovery seems to have rescued Michael Saylor’s Strategy Inc., the Bitcoin treasury company whose stock rose 3.9% yesterday and is up 8.4% over the last five sessions. It was up marginally this morning in overnight trading.
$BTC Bitcoin is down nearly 30% from its record high — history shows that’s normal
Key Points
The price of bitcoin has fallen around 36% from its all-time high recently but data shows this is a regular occurrence in the history of the cryptocurrency.
In the 2021 and 2017 bitcoin cycles, there were a number of instances of drops this size or bigger.
In previous cycles, bitcoin’s drawdowns of this size has been followed by rallies to new record highs.
$BTC Bitcoin, the world’s largest cryptocurrency, dropped to a low of around $80,000 late last month before staging a rally and falling again this week. When bitcoin dropped to under $81,000, that represented an approximately 36% fall from its all-time high of around $126,000 hit earlier in October. As of Thursday, bitcoin was trading at over $93,000, according to Coinmetrics, a roughly 26% decline from its record high.
$BTC Bitcoin is down nearly 30% from its record high — history shows that’s normal
Key Points
The price of bitcoin has fallen around 36% from its all-time high recently but data shows this is a regular occurrence in the history of the cryptocurrency.
In the 2021 and 2017 bitcoin cycles, there were a number of instances of drops this size or bigger.
In previous cycles, bitcoin’s drawdowns of this size has been followed by rallies to new record highs.
$BTC Bitcoin, the world’s largest cryptocurrency, dropped to a low of around $80,000 late last month before staging a rally and falling again this week. When bitcoin dropped to under $81,000, that represented an approximately 36% fall from its all-time high of around $126,000 hit earlier in October. As of Thursday, bitcoin was trading at over $93,000, according to Coinmetrics, a roughly 26% decline from its record high.
$BTC Bitcoin Dipped Below 'Fair Value' for First Time in 2 Years, History Says 132% Gains Next 12 Months
What to know:
$BTC BTC’s brief drop under Metcalfe network value has historically delivered +132% average 12-month returns (positive 96% of the time)
Long-term holder supply up 50,000 BTC in just 10 days as coins mature and LTHs flip from net sellers to net accumulators.
Historically, periods when bitcoin trades below its Metcalfe value have delivered strong forward returns. Twelve-month performance in these conditions has been positive 96% of the time, with an average gain of 132%, compared to 75% and 68% for other periods, according to Peterson.