Conflicting institutional signals on Bitcoin’s longer-term path

JPMorgan and others argue the Bitcoin bull cycle remains intact and maintain very high long-term targets (up to $240K) even as they acknowledge November’s drawdown and election-driven overvaluation. At the same time, Standard Chartered has trimmed its end-2025 forecast to ~$100K and sees treasury-company buying largely exhausted, shifting the focus to ETF inflows as the next key driver.