JPMorgan Sets $94K Support Level for Bitcoin, Sees Upside to $170K

JPMorgan Chase has shifted its view of Bitcoin, identifying a support level near $94,000 and maintaining an upside target around $170,000. This comes as the cryptocurrency trades in the mid-$90,000 range. Analysts cite factors like miner costs and reduced supply growth for this revised outlook. Despite recent slowdown in ETF inflows, JPMorgan highlights a cleaner leverage market and increasing institutional interest in Bitcoin.