🚀 Bitcoin to $170k? JPMorgan’s Wild Ride to Outshine Gold! 🤑

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Well, butter my biscuit and call me astonished! The wise folks over at JPMorgan-those wizards of Wall Street-have gazed into their crystal ball and declared that Bitcoin (BTC) must soar to a jaw-dropping $170,000 to match the ol’ reliable Gold’s private investment value. 🤯 According to Nikolaos Panigirtzoglou, a strategist with a name longer than a Mississippi riverboat, this parabolic rally could be just around the bend-say, 6 to 12 months. Mark your calendars, folks, and don’t forget your moon boots! 🌕

Now, let’s talk turkey. Gold, that shiny rock we’ve been hoarding since the dawn of time, hit $4,377 per ounce and then took a tumble, dropping 10% faster than a politician’s approval rating. Meanwhile, Bitcoin’s recent 20% dip from its all-time high? Oh, that’s just “heavy deleveraging in futures” and a little $128 million crypto heist. Nothing to see here, move along. 🕵️♂️💰

Why is Bitcoin Price Likely to Rebound In The Midterm? 🧐

Technical Tailwind: BTC Price Retest Critical Support Level 📉📈

From a technical standpoint-which is just a fancy way of saying “chart squiggly lines”-Bitcoin is cozying up to a crucial bull market support level. After its recent nosedive, it’s retesting and bouncing off a daily support level that used to be a resistance level back in 2024. It’s like watching a cat land on its feet, but with more zeros in the bank account. 🐱💸

In the weekly timeframe, BTC has flirted with the 50 Simple Moving Average (SMA), which has been its trusty sidekick during this bull market. Rekt Capital, a market analyst with a name that sounds like a bad breakup, believes Bitcoin’s bull run is at a “make-or-break moment.” Drama, drama, drama! 🎭

#BTC

Bitcoin has dropped into the 50-week EMA (purple)

And this is where Bitcoin needs to develop a cluster of Lower Lows in the price action and also in the RSI = 44.5 (green) if price wants to reverse from here $BTC #Crypto #Bitcoin

– Rekt Capital (@rektcapital) November 6, 2025

Renewed Demand amid Supportive Macro Backdrop 💪💼

Since Bitcoin dipped below $100k, on-chain data shows traders are scooping up the dip like it’s Black Friday at the crypto mall. CryptoQuant’s market analysis reveals Binance’s hourly Bitcoin Net Taker Volume dropped to a negative 53 million. That’s right, folks-aggressive selling, but history says it’s a sign of local bottoms. 🛒⬇️

And get this: Bitcoin addresses holding between 1k and 10k BTC have gobbled up 10k coins in the past 24 hours, bringing their stash to a cool 4.22 million. That’s more hoarding than a squirrel in autumn! 🌰🤑

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2025-11-06 22:07