The big players on Wall Street have recently been rallying behind Bitcoin again. JPMorgan's latest outlook indicates that BTC has solid support around $94,000, and they maintain a bullish stance on the future, believing Bitcoin still has the potential to surge to $170,000. Once this statement was released, the market immediately heated up, with many investors taking it as another confirmation of institutional bullish signals.

From a technical perspective, the $94,000 level is where previous large-scale trading occurred, and it is also a critical area for institutional positioning costs and the bulls' defensive line. As long as this line is not broken, Bitcoin's overall pattern remains strong. JPMorgan's message is that this recent correction is just a normal consolidation, and there's no need to worry about a trend reversal.

Looking at the macro level and capital flows: spot Bitcoin ETFs continue to attract institutional entry, liquidity expectations at the Federal Reserve are improving, and combined with the long-term dollar depreciation background, these factors are reinforcing Bitcoin's story as a "digital store of value." Interestingly, institutional allocation strategies for Bitcoin have shifted from short-term speculation to long-term asset allocation — a very key transformation.

Where does the $170,000 target come from? JPMorgan says it’s not just a temporary call but based on the halving cycle, increasing institutional demand, and Bitcoin’s scarcity model. If supply tightens and demand continues to grow, the price will naturally move upward.

In simple terms, JPMorgan’s latest judgment has once again boosted market confidence in BTC’s medium- to long-term trend. For investors, don’t just focus on short-term fluctuations; it’s more important to understand the underlying institutional logic and market cycle position. The trend is still there, and bullish enthusiasm is clearly rising, indicating the market is gearing up for the next rally.