Bitcoin Price Prediction: BTC Could Reach $120K as JP Morgan Turns Optimistic, Saying BTC is Better Than Gold?

Bitcoin has rebounded, trading at $103,725 as of today, up 1.09% in the past 24 hours with a 24-hour trading volume of $49.5 billion. This largest cryptocurrency has returned to the spotlight as macro and institutional narratives shift. Analysts at JPMorgan, led by Nikolaos Panigirtzoglou, stated that Bitcoin could outperform gold in the second half of 2025. Why? The activity of institutions is strong. Large companies, including Strategy and similar organizations, are aggressively accumulating Bitcoin, turning it into a long-term asset. JPMorgan also points out the regulatory advantages – some states in the United States are considering or passing bills for the Strategic Bitcoin Reserve (SBR) that will place Bitcoin in the core treasury asset category.

Panigirtzoglou's team stated that the maturation of the cryptocurrency derivatives market is another bullish catalyst. More developed derivatives infrastructure could attract risk-managed institutional capital flows, allowing Bitcoin to trade more like a traditional asset while still maintaining asymmetric gains. Bitcoin Outperforms Gold in Safety Rotation While Bitcoin has performed worse than gold for most of 2025, the story is changing. Over the past week, BTC has recovered some losses while gold has declined. Gold prices have recently decreased after the US-China trade tensions eased, reducing global tensions and decreasing the demand for traditional safe-haven assets. Just a few weeks ago, gold reached a record level of $3,500 amid turmoil over tariffs and central bank stockpiling. But as the geopolitical dust settled, Bitcoin became the focus – as a digital alternative to gold and a higher-yielding hedge. JPMorgan's target of 120,000 USD for BTC aligns with the increasing recognition of Bitcoin's macro role. For investors seeking portfolio diversification, the shift from passive exposure to gold to a more dynamic digital asset is becoming increasingly appealing. The Technical Setup of Bitcoin Shows Breakthrough Technically, Bitcoin is gaining momentum. BTC is above the 50-period EMA at (103.453 dollars) and above the important 23.6% Fibonacci retracement level at (103.376 dollars) from the recent rally from 95.828 dollars. A higher bottom pattern is forming at the support level of $101.926.* The MACD is turning green. The resistance levels are at $104.476, $105.716, $107.031.

Trading: Buy trigger point: Break above $104.476 with large trading volume. Target: $107.031 in the short term, $120,000 in the long term (macro thesis). Stop loss: Below $103,000 to manage risk. Did you just find this out? Let's see how BTC reacts at these levels. If the price breaks out with confidence, it could move quickly – especially with the support of institutions. Summary: The consolidation of Bitcoin at 103,000 dollars may be the calm before the storm. Bitcoin price predictions show upward momentum with JPMorgan being optimistic and macro stories favorable for BTC, making 120,000 dollars increasingly seem feasible.