The rest of the altcoins operate with increases of up to 10% led by Binance Coin, Dogecoin and Chainlink (7%) and Hedera (6.1%). On the other hand, Avalanche gave up 1.5%.
Wall Street banks remain optimistic about Bitcoin towards the end of 2025
In the last week, despite this setback, Bitcoin reached US$124,500, its highest value in history. With that momentum, major Wall Street and UK financial institutions predict the cryptocurrency will reach new peaks before the end of 2025, driven by the influx of institutional capital and the expansion of spot ETFs.
According to a report by Citigroup (C)Bitcoin would end next year around US$133,000which would imply a new historical maximum and an increase in the 8.7% compared to the current level (USD 122,350).
The bank projects a sustained growth of the digital asset, backed by the flow of funds to the Spot Bitcoin ETF and the growing interest of corporate treasuries that incorporate cryptocurrencies in their portfolios.
As of Saturday, U.S.-based exchange-traded funds (ETFs) managed more than $s.163.5 billion in Bitcoinand Citi estimates that the new inflows could reach US$7.5 billion before the end of the yearwhich would keep demand firm and prices on an upward trend.
However, the bank’s most cautious scenario contemplates a correction towards US$83,000in case global recessionary pressures intensify and risk appetite decreases.
For its part, a team of strategists from JPMorgan Chase (JPM)led by Nikolaos Panigirtzoglouconsider that Bitcoin remains undervalued compared to goldeven after adjusting for volatility.
According to the report, the Bitcoin-gold volatility ratio fell below 2.0, suggesting that the cryptocurrency absorbs 1.85 times more risk capital than the precious metal. Based on that parameter, the market capitalization of Bitcoin—currently US$2.3 billion— should grow a 42%until reaching a theoretical price of US$165,000to equate the private gold holdingsestimated in US$6 billion (including ETFs, bars and coins).
He golda traditional refuge asset and macroeconomic counterpart to Bitcoin, accumulates a rise of 48% so far this yearits best performance since 1979. However, its relative strength index (RSI) It climbed to 89, the most overbought level since 2012, which historically preceded declines of between 40% and 60%. Bitcoin, which has shown a eight-week lag correlation with goldcould benefit from a capital turnover from the precious metal to digital assets in the coming months, reinforcing JPMorgan’s bullish projection.
The bank also maintains that the Federal Reserve rate cut cycle and the steady flow of investments into spot ETFs could be the catalysts for a new phase of upside in 2025.
Source: Ambito
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