Despite BTC's drastic drop to $81,000 last month (the first annual decline compared to last year in 2023), JPMorgan's latest research report directly states: the bull market structure hasn't broken, this wave is just a 'mid-game deep breath'🌬️
🔹 Core Logic 1: Dropped but the trend remains
After the pullback, it quickly rebounded to $94,000, with key support levels holding steady. Essentially, it is a 'turnover reshuffle' after the previous surge. Combined with the expectation of interest rate cuts by the Federal Reserve, there are no signs of a bull-to-bear transition appearing.
🔹 Core Logic 2: Stablecoins hide the underlying truth
The total market value has grown for 17 consecutive months, exceeding $300 billion. Funds haven't withdrawn; they are just being reallocated within the market— the 'funding water level' in the crypto ecosystem has been consistently rising, and the infrastructure is becoming increasingly solid.
🔹 Core Logic 3: Lower target price ≠ bearish
The downgrade from a high position to a target of $100,000 in 2025 indicates a shift from 'aggressively optimistic' to 'cautiously optimistic'; the medium to long term remains firmly bullish in the six-figure range.
For ordinary investors: Don’t be misled by daily fluctuations; emotional trading is more dangerous than corrections. Now is half-time, not the final bell 🎬
#bitcoin #CryptoMarketAlert #JPMorganBitcoin #stablecoin
