[JPMorgan Predicts Bitcoin May Rise to Around $170,000 in the Future] The JPMorgan analyst team stated that Bitcoin could rise to approximately $170,000 within the next 6 to 12 months, citing factors such as leverage reset and improved volatility of Bitcoin relative to gold. Analysts pointed out that the crypto market has recently pulled back about 20% from its peak, including the largest liquidation event in crypto history in the perpetual contracts market on October 10, followed by a smaller-scale liquidation on November 3. Analysts believe the November 3 liquidation is related to shaken investor confidence, as the decentralized finance protocol Balancer suffered a vulnerability attack exceeding $120 million, raising concerns about protocol security in the market.