JPMorgan: Whether Strategy Can Hold Up May Be Key to Bitcoin's Short-Term Trend

According to ChainCatcher, The Block reports that JPMorgan analysts stated that Strategy (formerly MicroStrategy) maintaining its Bitcoin holding valuation ratio above 1 and avoiding forced BTC sales is key to determining the short-term price movement of Bitcoin. The analysis points out that although miners face selling pressure due to high production costs, MSTR holds $1.44 billion in cash reserves—enough to cover its debt payments for the next two years—thereby reducing the risk of selling pressure. In addition, the bank maintains a mid-term theoretical target price for BTC of around $170,000.