Bitcoin’s recent price surge has prompted prominent figures, such as billionaire Ray Dalio, to call it “alternative money.” As Bitcoin price reaches new heights, market participants are witnessing significant profit-taking. The cryptocurrency’s value has risen sharply, exceeding $120,000, and profit-taking now stands at over $3.7 billion.
JPMorgan has been one of the financial giants drawing attention to Bitcoin’s growing potential. The bank’s model indicates that Bitcoin could reach approximately $165,000 when adjusted for volatility relative to gold. According to JPMorgan analysts, Bitcoin needs to climb another 40% from current levels to match the scale of private gold holdings.
JUST IN: $3.6 trillion JPMorgan says Bitcoin is undervalued compared to gold.
Suggests $BTC could reach $165,000. pic.twitter.com/Y48ZM6yhoy
— Watcher.Guru (@WatcherGuru) October 2, 2025
As Bitcoin’s price climbs, many investors turn to the cryptocurrency as a hedge against inflation. “Retail investors have become key drivers of Bitcoin’s momentum,” JPMorgan stated. The influx of funds into Bitcoin exchange-traded funds (ETFs) has been substantial, with recent data showing significant daily inflows, further solidifying the belief in Bitcoin as a store of value.
Bitcoin ETFs have recorded their highest inflows since mid-September, with $675.8 million flowing into these funds. BlackRock’s IBIT fund led the charge with $405.5 million, followed by Fidelity’s FBTC fund with $179.3 million. The vigorous ETF activity indicates growing demand for Bitcoin, particularly in the face of rising gold prices.
As Bitcoin ETFs gain momentum, the market continues to respond to broader macroeconomic trends. Analysts believe that this surge signals a long-term shift toward Bitcoin as a mainstream asset. The rise in Bitcoin demand is mirrored by gold, although Bitcoin’s volatility ratio compared to gold remains a topic of interest among analysts.
With Bitcoin nearing the $120,000 mark, many traders are taking profits after the cryptocurrency’s latest rally. Profit-taking has surpassed $3.7 billion, reflecting the substantial gains that Bitcoin holders have experienced. Bitcoin’s impressive rise has led some, including Eric Trump, to predict that the cryptocurrency could eventually reach $1 million.
Despite the profit-taking, analysts remain optimistic about Bitcoin’s prospects. “The demand for Bitcoin shows no signs of slowing down,” said JPMorgan’s analysts. As Bitcoin continues to rise, both retail and institutional investors are positioning themselves for long-term gains, with a bullish outlook prevailing for the cryptocurrency.
Maxwell is a crypto-economic analyst and blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
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