JPMorgan Claims Bitcoin Should Be Worth $68K More Than Current Value Compared to Gold as BTC and Stocks Decline Again

Bitcoin's Market Performance: Bitcoin has seen a decline, dropping below $102,000 as it aligns with falling US stocks, influenced by rising household debt and significant job cuts reported for October.

Federal Reserve Rate Cut Speculation: Odds for a Federal Reserve interest rate cut are increasing, but analysts caution that risk assets, including Bitcoin, may face unexpected challenges if the Fed decides to pause rate cuts.

JPMorgan's Bitcoin Valuation: JPMorgan has revised its stance on Bitcoin, now viewing it as undervalued compared to gold, suggesting that Bitcoin is currently priced significantly lower than its fair value.

ETF Outflows and Market Sentiment: Recent outflows from US spot Bitcoin ETFs have reached nearly $900 million, with market sentiment hinging on the stabilization of ETF flows and the critical psychological threshold of $100,000 for Bitcoin prices.